CORPORATIONS ACT 2001
The Court may order that one or more rights under a contract, agreement or arrangement are enforceable against a corporation only:
(a) with the leave of the Court; and
(b) in accordance with such terms (if any) as the Court imposes.
Example: The order could be sought for a right to terminate for convenience.
The Court may make the order if:
(a) there is a managing controller of the whole or substantially the whole of the corporation ' s property; and
(b) the Court is satisfied that:
(i) the rights are being exercised; or
(ii) the rights are likely to be exercised; or
(iii) there is a threat to exercise the rights;
because of one or more reasons referred to in paragraphs 434J(1)(a) to (d); and
(c) an application for the order is made by the managing controller. 434L(3)
An order under subsection (1) must specify the period for which it applies. In working out the period, the Court must have regard to:
(a) subsections 434J(2) , (3) and (4) ; and
(b) the interests of justice. 434L(4)
Subsection (1) does not apply to a right referred to in subsection 434J(5) or (7) . Interim orders 434L(5)
Before deciding an application for an order under subsection (1), the Court may grant an interim order for one or more rights under a contract, agreement or arrangement not to be enforced against a corporation. 434L(6)
The Court must not require an applicant for an order under subsection (1) to give an undertaking as to damages as a condition of granting an interim order.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.