Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT  

Division 7 - Rights of secured party, owner or lessor  

Subdivision C - Property not subject to security interests  

SECTION 441H   COURT MAY LIMIT POWERS OF RECEIVER ETC. IN RELATION TO PROPERTY USED BY COMPANY  

441H(1)   [ Owners or lessors of property used by company]  

This section applies if:

(a) for the purpose of enforcing a right of the owner or lessor of property used or occupied by, or in the possession of, a company to take possession of the property or otherwise recover it, a person:

(i) enters into possession, or assumes control, of the property; or

(ii) exercises any other power in relation to the property; and

(b) the company is under administration when the person does so, or the company later begins to be under administration.

441H(2)   [ Court order]  

On application by the administrator, the Court may order the person not to perform specified functions, or exercise specified powers, in relation to the property, except as permitted by the order.

441H(3)   [ Protection of interests of owner or lessor]  

The Court may only make an order if satisfied that what the administrator proposes to do during the administration will adequately protect the interests of the owner or lessor.

441H(4)   [ Effect of order]  

An order may only be made, and only has effect, during the administration.

441H(5)   [ Paramountcy]  

An order has effect despite sections 441F and 441G.