Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3B - RESTRUCTURING OF A COMPANY  

Division 2 - Restructuring  

Subdivision E - Effect on company etc. during restructuring  

SECTION 453S   STAY OF PROCEEDINGS  

453S(1)  
During the restructuring of a company, a proceeding in a court against the company or in relation to any of its property cannot be begun or proceeded with, except:

(a)  with the restructuring practitioner ' s written consent; or

(b)  with the leave of the Court and in accordance with such terms (if any) as the Court imposes.

453S(2)  
Subsection (1) does not apply to:

(a)  a criminal proceeding; or

(b)  a prescribed proceeding.


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