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

Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .

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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