Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

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

Division 7 - Rights of secured party, owner or lessor  

Subdivision B - Property subject to security interests  

SECTION 441D   COURT MAY LIMIT POWERS OF SECURED PARTY ETC. IN RELATION TO SECURED PROPERTY  

441D(1)  
This section applies if:


(a) for the purpose of enforcing a security interest in property of a company, the secured party, or a receiver or other person, does or proposes to do an act of a kind referred to in a paragraph of subsection 441B(1) ; and


(b) the company is under administration when the secured party, receiver or other person does or proposes to do the act, or the company later begins to be under administration;

but does not apply in a case where section 441A applies.

441D(2)  


On application by the administrator, the Court may order the secured party, receiver or other person not to perform specified functions, or exercise specified powers, except as permitted by the order.

441D(3)  


The Court may only make an order if satisfied that what the administrator proposes to do during the administration will adequately protect the secured party ' s interests.

441D(4)  
An order may only be made, and only has effect, during the administration.

441D(5)  
An order has effect despite sections 441B and 441C .


 

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.