Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3B - RESTRUCTURING OF A COMPANY  

Division 2 - Restructuring  

Subdivision C - Role of the restructuring practitioner during restructuring  

SECTION 453E   FUNCTIONS, DUTIES AND POWERS OF THE RESTRUCTURING PRACTITIONER  

453E(1)  
The functions of the restructuring practitioner for a company under restructuring are:

(a)  to provide advice to the company on matters relating to restructuring; and

(b)  to assist the company to prepare a restructuring plan; and

(c)  to make a declaration to creditors in accordance with the regulations in relation to a restructuring plan proposed to the creditors; and

(d)  any other functions given to the restructuring practitioner under this Act.

453E(2)  
The regulations may make provision for and in relation to the following:

(a)  the functions of the restructuring practitioner for a company under restructuring;

(b)  the duties of the restructuring practitioner for a company under restructuring;

(c)  the powers of the restructuring practitioner for a company under restructuring;

(d)  the rights and liabilities of a person who is or has been the restructuring practitioner for a company arising out of the performance of the functions and duties, and the exercise of the powers, of the person as restructuring practitioner.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.