Corporations Act 2001
This section applies if, before the beginning of the administration of a company, a secured party, receiver or other person:
(a) entered into possession, or assumed control, of property of the company; or
(b) entered into an agreement to sell such property; or
(c) made arrangements for such property to be offered for sale by public auction; or
(d) publicly invited tenders for the purchase of such property; or
(e) exercised any other power in relation to such property;
for the purpose of enforcing a security interest in that property.
Nothing in section 198G , 440B , 440F , 440G or 451E , or in an order under subsection 451G(1) , prevents the secured party, receiver or other person from enforcing the security interest in relation to that property.
[ CCH Note: Regulation 10.25.02(3)(g) (which was effective 1 March 2017) provides that the amendments made by No 11 of 2016, s 3, Sch 2 apply in relation to external administrations on and after 1 September 2017.]
Section 437D does not apply in relation to a transaction or dealing that affects that property and is entered into:
(a) in the exercise of a power of the secured party as secured party; or
(b) in the performance or exercise of a function or power of the receiver or other person;
as the case may be.
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