CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 5 - EXTERNAL ADMINISTRATION
PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT
History
Pt 5.3A inserted by No 210 of 1992, s 56 (effective 23 June
1993).
Division 1 - Preliminary
History
Heading inserted by No 210 of 1992, s 56 (effective 23 June 1993).
SECTION 435A
OBJECT OF PART
435A
The object of this Part is to provide for the business, property and affairs of an insolvent company to be administered in a way that:
(a)
maximises the chances of the company, or as much as possible of its business, continuing in existence; or
(b)
if it is not possible for the company or its business to continue in existence - results in a better return for the company's creditors and members than would result from an immediate winding up of the company.
History
S 435A inserted by No 210 of 1992, s 56 (effective 23 June 1993).
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