Commonwealth Consolidated Acts Commonwealth Consolidated ActsWhole of superannuation contribution debt
(1) A deed of company arrangement must contain a provision to the effect that the administrator of the deed must determine that the whole of a debt by way of a superannuation contribution is not admissible to proof against the company if:
(a) a debt by way of superannuation guarantee charge:
(i) has been paid; or
(ii) is, or is to be, admissible to proof against the company; and
(b) the administrator of the deed is satisfied that the superannuation guarantee charge is attributable to the whole of the first - mentioned debt.
(2) If the administrator of a deed of company arrangement determines, under a provision covered by subsection (1), that the whole of a debt is not admissible to proof against the company, the whole of the debt is extinguished.
Part of superannuation contribution debt
(3) A deed of company arrangement must contain a provision to the effect that the administrator of the deed must determine that a particular part of a debt by way of a superannuation contribution is not admissible to proof against the company if:
(a) a debt by way of superannuation guarantee charge:
(i) has been paid; or
(ii) is, or is to be, admissible to proof against the company; and
(b) the administrator of the deed is satisfied that the superannuation guarantee charge is attributable to that part of the first - mentioned debt.
(4) If the administrator of a deed of company arrangement determines, under a provision covered by subsection (3), that a part of a debt is not admissible to proof against the company, that part of the debt is extinguished.
(5) In this section:
"superannuation contribution" has the same meaning as in section 556.