Corporations Act 2001
Sections and provisions with full text and the judgments that cite each one.
Section 595 — Inducement to be appointed liquidator etc. of company
(1) A person must not give, or agree or offer to give, to another person any valuable consideration with a view to securing the first-mentioned person’s own appointment or nomination, or to securing…
Section 596 — Frauds by officers
(1) A person who, while an officer or employee of a company: (a) by false pretences or by means of any other fraud, induces a person to give credit to the company or to a related body corporate; or…
Section 596A — Mandatory examination
The Court is to summon a person for examination about a corporation’s examinable affairs if: (a) an eligible applicant applies for the summons; and (b) the Court is satisfied that the person is an…
Section 596AA — Objects and coverage of this Part
Objects (1) The objects of this Part are to: (a) deter avoidance of the payment of the entitlements of employees; and (b) protect the entitlements of a company’s employees from agreements,…
Section 596ACA — Person who contravenes section 596AC liable to compensate for loss
(1) A person is liable to pay compensation under subsection (3) or (4) if: (a) the person has contravened subsection 596AC(1), (2), (3) or (4) in relation to the entitlements of employees of a…
Section 596AB — Relevant agreements or transactions that avoid employee entitlements—offences
Offences of entering into relevant agreement or transaction (1) A person contravenes this subsection if the person enters into a relevant agreement or a transaction with the intention of, or with…
Section 596B — Discretionary examination
(1) The Court may summon a person for examination about a corporation’s examinable affairs if: (a) an eligible applicant applies for the summons; and (b) the Court is satisfied that the person: (i)…
Section 596AC — Relevant agreements or transactions that avoid employee entitlements—civil contraventions
Entering into relevant agreement or transaction (1) A person contravenes this subsection if: (a) the person enters into a relevant agreement or a transaction (within the meaning of subsection…
Section 596C — Affidavit in support of application under section 596B
(1) A person who applies under section 596B must file an affidavit that supports the application and complies with the rules of court. (2) The affidavit is not available for inspection except so far…
Section 596AD — Avoiding double recovery
An amount recovered in proceedings under section 596ACA in relation to a contravention of subsection 596AC(1), (2), (3) or (4) is to be taken into account in working out the amount (if any)…
Section 596D — Content of summons
(1) A summons to a person under section 596A or 596B is to require the person to attend before the Court: (a) at a specified place and at a specified time on a specified day, being a place, time and…
Section 596AE — Effect of section 596ACA
Section 596ACA: (a) has effect in addition to, and not in derogation of, any rule of law about the duty or liability of a person because of the person’s office or employment in relation to a company;…
Section 596E — Notice of examination
If the Court summons a person for examination, the person who applied for the summons must give written notice of the examination to: (a) as many of the corporation’s creditors as reasonably…
Section 596AF — Proceedings for compensation
(1) Subject to section 596AG and to subsection (2) of this section, any of the following may begin proceedings under section 596ACA for compensation to be paid under subsection 596ACA(3) or (4) in…
Section 596F — Court may give directions about examination
(1) Subject to section 597, the Court may at any time give one or more of the following: (a) a direction about the matters to be inquired into at an examination; (b) a direction about the procedure…
Section 596AG — Events preventing proceedings
(1) Proceedings cannot be begun as described in subsection 596AF(1) in relation to a company and a contravention of subsection 596AC(1), (2), (3) or (4) if the company’s liquidator has begun…
Section 596AH — Joining parties to proceedings
(1) If a company’s liquidator has begun proceedings under section 596ACA, any of the following may apply to the Court for leave to be joined as a party to the proceedings: (a) the Commissioner of…
Section 597 — Conduct of examination
(4) An examination is to be held in public except to such extent (if any) as the Court considers that, by reason of special circumstances, it is desirable to hold the examination in private. (5A) Any…
Section 597A — When Court is to require affidavit about corporation’s examinable affairs
(1) The Court is to require a person to file an affidavit about a corporation’s examinable affairs if: (a) an eligible applicant applies for the requirement to be made; and (b) the Court is satisfied…
Section 597B — Costs of unnecessary examination or affidavit
Where the Court is satisfied that a summons to a person under section 596A or 596B, or a requirement made of a person under section 597A, was obtained without reasonable cause, the Court may order…
Section 598 — Order against person concerned with corporation
(2) Subject to subsection (3), where, on application by an eligible applicant, the Court is satisfied that: (a) a person is guilty of fraud, negligence, default, breach of trust or breach of duty in…
Section 599 — Appeals from decisions of receivers etc.
(1) A person aggrieved by any act, omission or decision of: (a) a person administering a compromise, arrangement or scheme referred to in Part 5.1; or (b) a controller, or a managing controller, of…
Section 600AA — Duty of receiver, administrator or liquidator—parental leave pay
(1) A person who: (a) is appointed (whether or not by a court), and acts, as a receiver and manager in respect of property of a body corporate; or (b) is appointed as the administrator of a body…
Section 600F — Limitation on right of suppliers of essential services to insist on payment as condition of supply
(1) If: (a) a relevant authority of an eligible company requests, or authorises someone else to request, a person or authority (the supplier) to supply an essential service to the company in…
Section 600H — Rights if claim against the company postponed
(1) A person whose claim against a company is postponed under section 563A is entitled: (a) to receive a copy of any notice, report or statement to creditors only if the person asks the…
Section 600J — Acts of external administrator valid etc.
(1) The acts of an external administrator are valid despite any defects that may afterwards be discovered in his or her appointment or qualification. (2) A disposition of a company’s property by an…
Section 600K — Insolvency Practice Schedule (Corporations)
Schedule 2 has effect.
Section 601 — Meaning of property
In this Part: property of a company includes PPSA retention of title property, if the security interest in the property is vested in the company because of the operation of any of the following…
Section 601AA — Deregistration—voluntary
Who may apply for deregistration (1) An application to deregister a company may be lodged with ASIC by: (a) the company; or (b) a director or member of the company; or (c) a liquidator of the…
Section 601BA — Bodies corporate may be registered as certain types of companies
(1) A body corporate that is not a company or corporation sole may be registered under this Act as a company of one of the following types: (a) a proprietary company limited by shares; (b) an…
Section 601CA — When a registrable Australian body may carry on business in this jurisdiction and outside its place of origin
A registrable Australian body must not carry on business in a State or Territory in this jurisdiction unless: (a) that State or Territory is its place of origin; or (b) it has its head office or…
Section 601CCA — Publishing notices relating to cessation of business etc.
(1) A notice mentioned in paragraph 601CC(14)(a) is published in accordance with this subsection if it is published: (a) unless paragraph (b) of this subsection applies—in a manner that results in…
Section 601CDA — Limited disclosure if place of origin is a prescribed country
A foreign company is not required to lodge information or a copy of a document with ASIC under this Division if: (a) the company’s place of origin is a country prescribed by the regulations; and (b)…
Section 601CLA — Publishing notices relating to cessation of business etc.
(1) A notice mentioned in paragraph 601CL(15)(a) is published in accordance with this subsection if it is published: (a) unless paragraph (b) of this subsection applies—in a manner that results in…
Section 601CTA — Limited disclosure if place of origin is a prescribed country
A foreign company is not required to lodge information or a copy of a document with ASIC under this Division if: (a) the company’s place of origin is a country prescribed by regulations made for the…
Section 601CZA — Certain documents are debentures
For the purposes of this Division, choses in action (including an undertaking) that fall into one of the exceptions in paragraphs (a), (b), (e) and (f) of the definition of debenture in section 9…
Section 601DA — Reserving a name
(1) A person may lodge an application in the prescribed form with ASIC to reserve a name for a registrable Australian body or a foreign company. If the name is available, ASIC must reserve it. Note:…
Section 601EA — Applying for registration
(1) To register a managed investment scheme, a person must lodge an application with ASIC. (2) The application must state: (a) the name, and the address of the registered office, of the proposed…
Section 601FA — Responsible entity to be public company and hold Australian financial services licence
The responsible entity of a registered scheme must be a public company that holds an Australian financial services licence authorising it to operate a managed investment scheme.
Section 601GA — Contents of the constitution
(1) The constitution of a registered scheme must make adequate provision for: (a) the consideration that is to be paid to acquire an interest in the scheme; and (b) the powers of the responsible…
Section 601HA — Contents of the compliance plan
(1) The compliance plan of a registered scheme must set out adequate measures that the responsible entity is to apply in operating the scheme to ensure compliance with this Act and the scheme’s…
Section 601JA — When is a compliance committee required?
(1) The responsible entity of a registered scheme must establish a compliance committee if less than half of the directors of the responsible entity are external directors. (2) A director of the…
Section 601KA — Members’ rights to withdraw
Withdrawal from schemes that are liquid (1) The constitution of a registered scheme may make provision for members to withdraw from the scheme, wholly or partly, at any time while the scheme is…
Section 601LA — Chapter 2E applies with modifications
Chapter 2E applies to a registered scheme with the modifications set out in sections 601LB to 601LE and as if: (a) references to a public company were instead references to the responsible entity of…
Section 601MA — Civil liability of responsible entity to members
(1) A member of a registered scheme who suffers loss or damage because of conduct of the scheme’s responsible entity that contravenes a provision of this Chapter may recover the amount of the loss or…
Section 601NA — Winding up required by scheme’s constitution
The constitution of a registered scheme may provide that the scheme is to be wound up: (a) at a specified time; or (b) in specified circumstances or on the happening of a specified event; but a…
Section 601PA — Deregistration—voluntary
Responsible entity may apply for deregistration (1) The responsible entity of the registered scheme may lodge an application for deregistration of the scheme with ASIC. (2) The responsible entity may…
Section 601PAA — Application of this Division
This Division applies to a registered scheme that is not an Australian passport fund.
Section 601PBA — Application of this Division
This Division applies to a registered scheme that is an Australian passport fund (the fund).
Section 601QA — ASIC’s power to make exemption and modification orders
(1) ASIC may: (a) exempt a person from a provision of this Chapter; or (b) declare that this Chapter applies to a person as if specified provisions were omitted, modified or varied as specified in…