South Australian Consolidated Acts

CO-OPERATIVES ACT 1997 - SECT 339

339—Application of Corporations Act to person appointed

        (1)         Clauses 16, 18(2) and (4), 19, 23 and 25 of Schedule 4 apply to a person appointed to administer a compromise or arrangement as if the appointment were an appointment of the person as a receiver and manager of property of the co-operative and as if a reference to a receiver were a reference to that person.

        (2)         A person appointed to administer a compromise or arrangement is declared to be an applied Corporations legislation matter for the purposes of Part 3 of the Corporations (Ancillary Provisions) Act 2001 in relation to section 536 of the Corporations Act as if—

            (a)         the appointment were an appointment as a liquidator of the co-operative; and

            (b)         a reference to a liquidator were a reference to that person.