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  

Division 10 - Execution and effect of deed of company arrangement  

SECTION 444E   PROTECTION OF COMPANY ' S PROPERTY FROM PERSONS BOUND BY DEED  

444E(1)  
Until a deed of company arrangement terminates, this section applies to a person bound by the deed.

444E(2)  
The person cannot:


(a) make an application for an order to wind up the company; or


(b) proceed with such an application made before the deed became binding on the person.

444E(3)  
The person cannot:


(a) begin or proceed with a proceeding against the company or in relation to any of its property; or


(b) begin or proceed with enforcement process in relation to property of the company;

except:


(c) with the leave of the Court; and


(d) in accordance with such terms (if any) as the Court imposes.

444E(4)  


In subsection (3):

property
of a company includes:


(a) any PPSA retention of title property of the company; and


(b) any other property used or occupied by, or in the possession of, the company.

Note: See sections 9 (definition of property ) and 51F (PPSA retention of title property).


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