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LOCAL GOVERNMENT (GENERAL) REGULATION 2005 - REG 407

Modification of Parts 5.5-5.9 of the Corporations Act 2001 of the Commonwealth concerning winding up of Cudgegong (Abattoir) County Council

407 Modification of Parts 5.5-5.9 of the Corporations Act 2001 of the Commonwealth concerning winding up of Cudgegong (Abattoir) County Council

For the purposes of clause 1 (2) (g) of Schedule 9 to the Act, the following modifications of Parts 5.5-5.9 of the Corporations Act 2001 of the Commonwealth are prescribed:

(a) the definition of
"recovery proceeding" in section 588E (1) is to be read as if paragraphs (e) and (f) were omitted,
(b) section 588E (8) is to be read as if paragraphs (d) and (e) were omitted,
(c) section 588FF is to be read as if "(but not a director)" were inserted after "a person" wherever occurring in section 588FF (1) (a), (b), (c) and (d),
(d) Part 5.7B is to be read as if sections 588FGA and 588FGB were omitted,
(e) Part 5.7B is to be read as if Divisions 3-7 were omitted,
(f) section 590 is to be read as if "within 10 years next before the relevant day or at a time on or after that day" wherever occurring in section 590 (1) (c), (g) and (h) and (2) were omitted and "at any time on or after the relevant day" were inserted instead,
(g) section 596A is to be read as if ", to the extent that they relate to its winding up," were inserted after "affairs",
(h) section 596B (1) is to be read as if ", to the extent that they relate to its winding up," were inserted after "affairs" where firstly occurring,
(i) section 596B (1) (b) (i) is to be read as if ", to the extent that they relate to its winding up," were inserted after "affairs of the corporation",
(j) section 596B (1) (b) (ii) is to be read as if ", to the extent that they relate to its winding up" were inserted after "affairs of the corporation",
(k) section 596D is to be read as if ", to the extent that they relate to its winding up" were inserted after "affairs" wherever occurring in section 596D (1) (b) and (2) (b),
(l) section 597 (5B) is to be read as if ", to the extent that they relate to its winding up," were inserted after "corporation",
(m) section 597A is to be read as if " (winding up) " were inserted after " affairs " in the heading,
(n) section 598 (2) (a) is to be read as if "the winding up of" were inserted after "in relation to".



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