Corporations Act 2001
CHAPTER 5
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EXTERNAL ADMINISTRATION
PART 5.3A
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ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT
Division 8
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Powers of administrator
SECTION 442CA
PROPERTY SUBJECT TO A POSSESSORY SECURITY INTEREST
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INSPECTION OR EXAMINATION BY POTENTIAL PURCHASERS ETC.
If:
(a) a company is under administration; and
(b) property of the company is subject to a possessory security interest; and
(c) the administrator is entitled to dispose of the property by way of sale;
If:
(a) a company is under administration; and
(b) property of the company is subject to a possessory security interest; and
(c) the administrator disposes of the property by way of sale;
442CA(1)
If:
(a) a company is under administration; and
(b) property of the company is subject to a possessory security interest; and
(c) the administrator is entitled to dispose of the property by way of sale;
the secured party must, if requested to do so by the administrator, give potential purchasers a reasonable opportunity to inspect or examine the property.
442CA(2)
If:
(a) a company is under administration; and
(b) property of the company is subject to a possessory security interest; and
(c) the administrator disposes of the property by way of sale;
the administrator is entitled to obtain possession of the property in order to effect the sale.
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