Corporations Act 2001
If a company is subject to a deed of company arrangement, and:
(a) the administrator of the deed has applied all of the proceeds of the realisation of the assets available for the payment of creditors; or
(b) the administrator of the deed has paid to the creditors:
(i) the sum of 100 cents in the dollar; or
(ii) any lesser sum determined by the creditors at a general meeting; or
(c) all of the following conditions are satisfied:
(i) the company ' s obligations under the deed have been fulfilled;
(ii) the obligations of any other party to the deed have been fulfilled;
(iii) creditors ' claims under the deed have been dealt with in accordance with the deed;
the administrator of the deed must:
(d) certify to that effect in writing; and
(e) within 28 days, lodge with ASIC a notice of termination of the deed.
[ CCH Note: S 445FA(1) will be amended by No 69 of 2020, s 3, Sch 1[714], by substituting " the Registrar " for " ASIC " in para (e) (effective 22 June 2022 or a day or days to be fixed by Proclamation ).]
The notice of termination must be in the prescribed form.
Note: For termination of the deed, see section 445C .
[ CCH Note: S 445FA(2) will be amended by No 69 of 2020, s 3, Sch 1[715], by substituting " meet any requirements of the data standards " for " be in the prescribed form " , (effective 22 June 2022 or a day or days to be fixed by Proclamation ).]
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