Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3B - RESTRUCTURING OF A COMPANY  

Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .

Division 2 - Restructuring  

Subdivision D - Conduct of company during restructuring  

SECTION 453N  

453N   EFFECT OF THINGS DONE DURING RESTRUCTURING OF COMPANY  

A payment made, transaction entered into, or any other act or thing done, in good faith by:

(a)    the restructuring practitioner for a company under restructuring; or

(b)    a company under restructuring with the consent of the restructuring practitioner for the company; or

(c)    a company under restructuring in compliance with an order of the Court;

is valid and effectual for the purposes of this Act, and is not liable to be set aside in a winding up of the company.