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 11 - Variation, termination and avoidance of deed  

SECTION 445CA   445CA   WHEN CREDITORS MAY TERMINATE DEED  

The creditors are not entitled to pass a resolution under paragraph 445C(b) unless:

(a) there has been a breach of the deed; and

(b) the breach has not been rectified before the resolution is passed.