Corporations Act 2001
[ CCH Note: Pt 5.3A will be amended by No 8 of 2022, s 3, Sch 2, by inserting the note, (effective 1 July 2022). The note will read:
The administrator of a company under administration is entitled to be indemnified out of the company ' s property (other than any PPSA retention of title property subject to a PPSA security interest that is perfected within the meaning of the Personal Property Securities Act 2009 ) for:
(a) debts for which the administrator is liable under Subdivision A or a remittance provision as defined in subsection 443BA(2) ; and
(aa) any other debts or liabilities incurred, or damages or losses sustained, in good faith and without negligence, by the administrator in the performance or exercise, or purported performance or exercise, of any of his or her functions or powers as administrator; and
(b) the remuneration to which he or she is entitled under Division 60 of Schedule 2 (external administrator ' s remuneration).
[ CCH Note: Regulation 10.25.02(3)(g) (which was effective 1 March 2017) provides that the amendments made by No 11 of 2016, s 3, Sch 2 apply in relation to external administrations on and after 1 September 2017.]