CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT  

Division 9 - Administrator's liability and indemnity for debts of administration  

Subdivision A - Liability  

SECTION 443A   GENERAL DEBTS  

443A(1)  
The administrator of a company under administration is liable for debts he or she incurs, in the performance or exercise, or purported performance or exercise, of any of his or her functions and powers as administrator, for:


(a) services rendered; or


(b) goods bought; or


(c) property hired, leased, used or occupied, including property consisting of goods that is subject to a lease that gives rise to a PPSA security interest in the goods; or


(d) the repayment of money borrowed; or


(e) interest in respect of money borrowed; or


(f) borrowing costs.

443A(2)  
Subsection (1) has effect despite any agreement to the contrary, but without prejudice to the administrator ' s rights against the company or anyone else.


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