Corporations Regulations 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3B - RESTRUCTURING OF A COMPANY  

Division 2 - Restructuring  

Subdivision A - Restructuring generally  

REGULATION 5.3B.02   WHEN RESTRUCTURING ENDS  

5.3B.02(1)    
For the purposes of paragraph 453A(b) of the Act, the restructuring of a company ends if:

(a)    the company makes a declaration under subregulation (2) ; or

(b)    the company fails to propose a restructuring plan within the proposal period; or

(c)    the company ' s proposal to make a restructuring plan lapses under regulation 5.3B.20 ; or

(d)    the restructuring practitioner for the company terminates the restructuring under section 453J of the Act; or

(e)    the Court orders that the restructuring of the company is to end; or

(f)    an administrator of the company is appointed under section 436A , 436B or 436C of the Act; or

(g)    a liquidator or provisional liquidator of the company is appointed; or

(h) (Repealed)

(i) (Repealed)

(j)    the company makes a restructuring plan.

5.3B.02(2)    
The directors of a company under restructuring:

(a)    may make a declaration in writing that the restructuring of the company is to end on a specified day for any reason; and

(b)    must give a copy of the declaration to:

(i) the company ' s restructuring practitioner; and

(ii) the company ' s creditors;

before the day specified in the declaration.