Corporations (Aboriginal and Torres Strait Islander) Consequential, Transitional and Other Measures Act 2006 (125 of 2006)

Schedule 3   Transitional provisions

Part 3   Matters pending under old Act immediately before commencement

Division 6   Administrations

92   Administrator's remuneration

(1) This item applies if a person is taken, under subitem 89(3), to have been appointed as a special administrator for a transitional corporation.

(2) If, immediately before commencement, a determination by the ACA Registrar of the person's remuneration as Administrator was in force under subsection 74(1) of the old Act, the determination continues in force after commencement as if it were a determination by the CATSI Registrar of the person's remuneration as special administrator for the transitional corporation under subsection 511-1(1) of the new Act.

(3) If, immediately before commencement, a direction by the ACA Registrar in relation to the person's remuneration, charges or expenses was in force under subsection 74(2) of the old Act, the direction continues in force after commencement as if it were a direction by the CATSI Registrar in relation to the person's remuneration, charges or expenses as a special administrator for the transitional corporation under subsection 511-1(4) of the new Act.

(4) Subitem (3) has effect only to the extent to which the direction provides for the person's remuneration, charges or expenses to be borne by, or charged on the property of, the transitional corporation or a related body corporate.