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  

Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .

Division 11 - Variation, termination and avoidance of deed  

SECTION 445FA   NOTICE OF TERMINATION OF DEED  

445FA(1)    
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.

445FA(2)    
The notice of termination must be in the prescribed form.

Note: For termination of the deed, see section 445C .