THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT

Division 8 - Powers of administrator

SECTION 442B   DEALING WITH PROPERTY SUBJECT TO A FLOATING CHARGE THAT HAS CRYSTALLISED  

442B(1)  [Crystallisation]  

This section applies where a charge on property of a company under administration was a floating charge when created but has since become a fixed or specific charge.

442B(2)  [Charge treated as floating charge]  

Subject to sections 442C and 442D, the administrator may deal with any of that property as if the charge were still a floating charge.