Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3B - RESTRUCTURING OF A COMPANY  

Division 2 - Restructuring  

Subdivision D - Conduct of company during restructuring  

SECTION 453K   CONTROL OF COMPANY UNDER RESTRUCTURING  

453K(1)  
Subject to this Part, while a company is under restructuring the company has control of the company ' s business, property and affairs.

453K(2)  
While a company is under restructuring, a receiver or controller appointed for the purposes of Part 5.2 (whether under an instrument relating to a security interest or a court order) may only perform the functions and exercise the powers of a receiver or controller in relation to a security interest if:

(a)  section 454C , 454D or 454E applies to the enforcement of the security interest; or

(b)  section 454K or 454L applies to the enforcement of a right, or the performance or exercise of a function or power, over property to which the security interest relates.


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.