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 10 - Execution and effect of deed of company arrangement  

SECTION 444C   CREDITOR ETC. NOT TO ACT INCONSISTENTLY WITH DEED BEFORE ITS EXECUTION  

444C(1)   [ Application]  

Where, at a meeting convened under section 439A, a company's creditors resolve that the company execute a deed of company arrangement, this section applies until:


(a) the deed is executed by both the company and the deed's administrator; or


(b) the period within which subsection 444B(2) requires the company to execute the deed ends;

whichever happens sooner.

444C(2)   [ Binding effect of deed before execution]  

In so far as a person would be bound by the deed if it had already been so executed, the person:


(a) must not do anything inconsistent with the deed, except with the leave of the Court; and


(b) is subject to section 444E.


 

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