THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

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

Division 11 - Variation, termination and avoidance of deed

SECTION 445G   WHEN COURT MAY VOID OR VALIDATE DEED  

445G(1)  [Doubt about deed]  

Where there is doubt, on a specific ground, whether a deed of company arrangement was entered into in accordance with this Part or complies with this Part, the administrator of the deed, a member or creditor of the company, or the Commission, may apply to the Court for an order under this section.

445G(2)  [Court may declare deed void]  

On an application, the Court may make an order declaring the deed, or a provision of it, to be void or not to be void, as the case requires, on the ground specified in the application or some other ground.

445G(3)  [Court may declare deed valid]  

On an application, the Court may declare the deed, or a provision of it, to be valid, despite a contravention of a provision of this Part, if the Court is satisfied that:

(a)  the provision was substantially complied with; and

(b)  no injustice will result for anyone bound by the deed if the contravention is disregarded.

445G(4)  [Court may vary deed]  

Where the Court declares a provision of a deed of company arrangement to be void, the Court may by order vary the deed, but only with the consent of the deed's administrator.