Section 444DB — Corporations Act 2001: Superannuation contribution debts not admissible to proof

Whole 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. Definition (5) In this section: superannuation contribution has the same meaning as in section 556.