Corporations Act 2001
CHAPTER 5
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EXTERNAL ADMINISTRATION
PART 5.1
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ARRANGEMENTS AND RECONSTRUCTIONS
SECTION 415E
LIFTING THE STAY
415E(1)
The Court may order that subsection 415D(1) does not apply for one or more rights against a body if the Court is satisfied:
(a) that the relevant compromise or arrangement:
(b) that this is appropriate in the interests of justice.
415E(2)
The order may also provide that the holder of those rights may choose to enforce those rights from the earlier of:
(a) the day any announcement referred to in paragraph 415D(1)(a) was made by the body; and
(b) the day any application under section 411 was made for the compromise or arrangement.
415E(3)
An application for the order may be made by the holder of those rights.
Note: This Part applies to CCIVs with modifications: see Division 2 of Part 8B.6 .
View history note
Hide history noteThe Court may order that subsection 415D(1) does not apply for one or more rights against a body if the Court is satisfied:
(a) that the relevant compromise or arrangement:
(i) to be applied for; or
(ii) applied for; or
(iii) approved;
under this Part is not for the purpose of the body avoiding being wound up in insolvency; or
(b) that this is appropriate in the interests of justice.
415E(2)
The order may also provide that the holder of those rights may choose to enforce those rights from the earlier of:
(a) the day any announcement referred to in paragraph 415D(1)(a) was made by the body; and
(b) the day any application under section 411 was made for the compromise or arrangement.
415E(3)
An application for the order may be made by the holder of those rights.
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