Supreme Court (Chapter V Amendment No. 2) Rules 2006

i Supreme Court (Chapter V Amendment No. 2) Rules 2006 S.R. No. 44/2006 TABLE OF PROVISIONS Rule Page 1. Object 1 2. Authorising provisions 1 3. Commencement 1 4. Principal Rules 1 5. Application of Part 3 1 6. New Schedule 2 2 SCHEDULE 2—Powers of the Court that may be Exercised by a Master 2 ═══════════════ ENDNOTES 13 -- 1 of 14 -- 1 STATUTORY RULES 2006 S.R. No. 44/2006 Supreme Court Act 1986 Corporations (Ancillary Provisions) Act 2001 Supreme Court (Chapter V Amendment No. 2) Rules 2006 The Judges of the Supreme Court make the following Rules: 1. Object The object of these Rules is to amend Chapter V of the Rules of the Supreme Court to provide for Masters to exercise certain powers conferred on the Court or a Judge under specific provisions of the Corporations Act. 2. Authorising provisions These Rules are made under section 25 of the Supreme Court Act 1986, section 23 of the Corporations (Ancillary Provisions) Act 2001 and all other enabling powers. 3. Commencement These Rules come into operation on 8 May 2006. 4. Principal Rules In these Rules, the Supreme Court (Corporations) Rules 20031 are called the Principal Rules. 5. Application of Part 3 In Rule 16.7(2) of the Principal Rules, sub- paragraphs (b) and (c) are revoked. -- 2 of 14 -- S.R. No. 44/2006 Supreme Court (Chapter V Amendment No. 2) Rules 2006 2 6. New Schedule 2 For Schedule 2 to the Principal Rules substitute— "SCHEDULE 2 Rule 16.1 POWERS OF THE COURT THAT MAY BE EXERCISED BY A MASTER Column 1 Provision Column 2 Description THE ASIC ACT s. 79(4) To extend time for service of notice. THE CORPORATIONS ACT s. 227 Declaration that conditions prescribed by Division 3 of Part 2E.1 have been satisfied. s. 247A To order inspection of books. s. 247B To make ancillary order about inspection of books. s. 252E To order meeting of members of registered scheme. s. 266(4) For extension of time for registration of charge. s. 267(3) To give leave to enforce charge. s. 274 To rectify omission or misstatement. s. 283AE(2) For appointment of corporation to be trustee. s. 411(16) To restrain further proceedings. r. 6 r. 6 -- 3 of 14 -- S.R. No. 44/2006 Supreme Court (Chapter V Amendment No. 2) Rules 2006 3 Column 1 Provision Column 2 Description THE CORPORATIONS ACT s. 418A Declaration as to validity of controller's appointment and in relation to control of property. s. 420B To authorise managing controller to dispose of property despite prior charge. s. 420C To authorise receiver to carry on corporation's business during the winding up. s. 425 To fix remuneration of receiver. s. 429(3) To extend time for report. s. 434 That receiver remedy default. s. 438D(3) To direct administrator to lodge a report. s. 439A(6) For extension of convening period. s. 440B To grant leave to enforce a charge if an administrator has been appointed. s. 440C To grant leave to take possession of, or otherwise recover, property. s. 440D(b) For leave to begin or proceed with proceeding against company during administration. s. 440F For leave to begin or proceed with enforcement process re property of company during administration. s. 440G(7) To permit a court officer to take action or make a payment during administration. s. 440J To grant leave to take enforcement action under a guarantee. r. 6 -- 4 of 14 -- S.R. No. 44/2006 Supreme Court (Chapter V Amendment No. 2) Rules 2006 4 Column 1 Provision Column 2 Description THE CORPORATIONS ACT s. 442C To grant leave to administrator to dispose of encumbered property. s. 443B(8) To excuse administrator from personal liability for rent. s. 444B(2)(b) To extend time for company to execute deed. s. 444E(3)(c) For leave to person bound by deed to begin or proceed with proceeding against company etc. or enforcement process against company. s. 447A(1) (where winding up order to be made by a Master) To end administration of company. s. 447C To declare whether administrator is validly appointed. s. 447E(2) For order where office of administrator is vacant or no administrator is acting. s. 449C(6) For appointment of an administrator of company under administration when none is acting. s. 449D(1) To fill vacancy in office of administrator of deed. s. 449D(2) For appointment of an administrator of deed where none is acting. s. 449E(1) To fix the remuneration of an administrator. s. 449E(2) For review etc. of administrator's remuneration. r. 6 -- 5 of 14 -- S.R. No. 44/2006 Supreme Court (Chapter V Amendment No. 2) Rules 2006 5 Column 1 Provision Column 2 Description THE CORPORATIONS ACT s. 459F(2)(a) For order extending period for compliance with demand. s. 459G For order on application to set aside a demand. s. 459P(2) For leave to apply for winding up. s. 459R For extension of time for determination of application for winding up in insolvency. s. 459S For leave to company to oppose application. s. 465B(1) For order substituting applicant. s. 465C (if the application is pending before a Master) For leave to oppose application when there has been failure to file and serve notice of grounds of opposition and verifying affidavit. s. 467(7) For stay of proceedings. s. 468 For validation of disposition of property, attachments etc. s. 470(2)(b) To serve a copy order on another person. s. 471A For approval by the Court to perform or exercise a function or power as an officer of the company. s. 471B For leave to begin or proceed with a proceeding or begin or proceed with enforcement process against a company being wound up in insolvency or by the Court or in respect of which a provisional liquidator is acting. r. 6 -- 6 of 14 -- S.R. No. 44/2006 Supreme Court (Chapter V Amendment No. 2) Rules 2006 6 Column 1 Provision Column 2 Description THE CORPORATIONS ACT s. 472(1) (where winding up order made by a Master) For appointment of liquidator. s. 472(2) For appointment of provisional liquidator. s. 472(6) For order on application with respect to the exercise or proposed exercise of a power of a provisional liquidator. s. 473(2) Determination of provisional liquidator's remuneration. s. 473(3), (5) Determination or review of liquidator's remuneration. s. 473(7) To fill vacancy in office of liquidator. s. 473(8) To declare what may be done by liquidator, where more than one appointed. s. 474(2) To vest property in liquidator. s. 477(2A) For approval of liquidator's compromising a debt. s. 477(2B) For approval of liquidator's entering an agreement which may last or obligations which may be performable more than 3 months later. s. 477(6) For order on application with respect to the exercise or proposed exercise of a power by liquidator. s. 480 To release liquidator and deregister company. s. 481 To order auditor's report and liquidator to make good any loss. r. 6 -- 7 of 14 -- S.R. No. 44/2006 Supreme Court (Chapter V Amendment No. 2) Rules 2006 7 Column 1 Provision Column 2 Description THE CORPORATIONS ACT s. 482(1) To stay or terminate winding up. s. 483(1) For delivery of property etc. to liquidator. s. 484 To appoint or remove special manager, to fix security or remuneration. s. 486 For inspection of books. s. 488(2) To grant special leave to distribute a surplus. s. 490 For leave to company to resolve that it be wound up voluntarily. s. 495(4) As to manner of holding meeting. s. 496(3) For order that list of creditors be sent. s. 497(3) For order that list of creditors be sent. s. 499 For direction as to liquidator. s. 500(2) For leave to proceed. s. 500(3) For delivery of property etc. to liquidator. s. 502 To appoint liquidator. s. 504 To review liquidator's remuneration. s. 507(6) To sanction resolution. s. 507(9) For directions for initiation and conduct of arbitration. s. 507(10) For approval for exercise of powers. r. 6 -- 8 of 14 -- S.R. No. 44/2006 Supreme Court (Chapter V Amendment No. 2) Rules 2006 8 Column 1 Provision Column 2 Description THE CORPORATIONS ACT s. 509(6) To order deregistration on a specified day. s. 510(3) To settle dispute. s. 511(1)(b) For exercise of powers. s. 532(2) To grant leave for person to be appointed as liquidator. s. 542(3)(a) As to destruction of books. s. 543(1) As to investment of funds. s. 544 As to accounts or payment of unclaimed funds. s. 545(2) To direct liquidator to incur a particular expense. s. 547(1) To direct meeting. s. 551 Leave to member of Committee of Inspection to accept benefit. s. 552 To give direction or permission. s. 554A To estimate, or determine method to be applied in working out, value of debts and claims of uncertain value in liquidation. s. 554G To grant leave to secured creditor to amend valuation of security in proof of debt. s. 564 To make an order in favour of certain creditors. s. 568 For leave to disclaim. s. 568B To set aside disclaimer of property before disclaimer takes effect. s. 568E To set aside disclaimer of property after disclaimer has taken effect. r. 6 -- 9 of 14 -- S.R. No. 44/2006 Supreme Court (Chapter V Amendment No. 2) Rules 2006 9 Column 1 Provision Column 2 Description THE CORPORATIONS ACT s. 568F For orders re vesting of disclaimed property. s. 583 To wind up Part 5.7 bodies. s. 587 To stay proceedings or for leave to commence or proceed. s. 588FF To make order about voidable transactions. s. 588T(2)(b) For leave to creditor to begin proceeding. s. 596A For mandatory examination. s. 596B For discretionary examination. s. 596F(1)(b) to (g) (if direction is given after commencement of examination before the Master) For directions about examination. s. 597(9) (if direction is given after commencement of examination before the Master) For direction to produce books. s. 597A For mandatory affidavit. s. 597B (if examination before the Master) For costs of unnecessary examination. s. 600A To make order setting aside creditors' resolution or in respect of consideration and voting on proposed resolution or entitlement to vote on proposed resolution or amendment or variation of proposed resolution. r. 6 -- 10 of 14 -- S.R. No. 44/2006 Supreme Court (Chapter V Amendment No. 2) Rules 2006 10 Column 1 Provision Column 2 Description THE CORPORATIONS ACT s. 600B To order setting aside or varying of creditors' resolution passed on casting vote of person presiding at meeting. s. 600C To order proposed creditors' resolution to be taken as passed at meeting. s. 600D To make interim order where application under section 600A(1), 600B(2) or 600C(2) not yet determined. s. 601AH(2) For reinstatement of the registration of a company. s. 601BJ To approve modification of constitution. s. 601CC(8) For restoration of name of registered Australian body. s. 601CL(9) For restoration of name of registered foreign company. s. 601FN For appointment of a temporary responsible entity of a scheme. s. 1071D To issue summons and make consequential orders under section 1071D(5). s. 1071F For order following failure by directors to register etc. s. 1071H To remedy default in issuing certificate. s. 1274(11) For order to remedy default. s. 1303 To order immediate inspection of books. s. 1319 For direction with respect to meeting. r. 6 -- 11 of 14 -- S.R. No. 44/2006 Supreme Court (Chapter V Amendment No. 2) Rules 2006 11 Column 1 Provision Column 2 Description THE CORPORATIONS ACT s. 1321 To confirm, reverse or modify act or decision of receiver, receiver and manager, administrator or liquidator or remedy omission of receiver, receiver and manager, administrator or liquidator on appeal from aggrieved person. s. 1322(4) For order in relation to irregularities etc. s. 1335 To order security for costs. s. 1341(3) For payment of money. CORPORATIONS REGULATIONS 5.6.06 For order not to open liquidator's general account. 5.6.09 For directions with respect to money or securities and authorisation of payments to special bank accounts. 5.6.15(2) For repayment of costs of meeting. 5.6.16(7) For declaration that adjourned meeting be taken to be incompetent to act. 5.6.18(3) For order as to place of adjourned meeting. 5.6.24(3) To determine whether security surrendered. 5C.2.02 To appoint a temporary responsible entity of a scheme. __________________". r. 6 -- 12 of 14 -- S.R. No. 44/2006 Supreme Court (Chapter V Amendment No. 2) Rules 2006 12 Dated: 27 April 2006 M. L. WARREN, C.J. CHRISTOPHER MAXWELL, P. PETER BUCHANAN, J.A. G. M. EAMES, J.A. DAVID ASHLEY, J.A. BERNARD G. TEAGUE, J. P. D. CUMMINS, J. DAVID BYRNE, J. H. R. HANSEN, J. D. J. HABERSBERGER, J. R. S. OSBORN, J. JULIE DODDS-STREETON, J. STEPHEN KAYE, J. SIMON P. WHELAN, J. ELIZABETH HOLLINGWORTH, J. KEVIN H. BELL, J. KIM HARGRAVE, J. ═══════════════ r. 6 -- 13 of 14 -- S.R. No. 44/2006 Supreme Court (Chapter V Amendment No. 2) Rules 2006 13 ENDNOTES 1 Rule 4: S.R. No. 107/2003. Subsequently amended by S.R. No. 47/2005. Endnotes -- 14 of 14 --