Corporations Act 2001
Note: This Part applies to CCIVs with modifications: see Division 3 of Part 8B.6 .
View history note
Hide history noteIn exercising a power of sale in respect of property of a corporation, a controller must take all reasonable care to sell the property for:
(a) if, when it is sold, it has a market value - not less than that market value; or
(b) otherwise - the best price that is reasonably obtainable, having regard to the circumstances existing when the property is sold. 420A(2) [ Effect of section on duties]
Nothing in subsection (1) limits the generality of anything in section 180, 181, 182, 183 or 184.
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