Corporations Act 2001
The object of subsection (2) is to ensure that a self-executing provision:
(a) cannot start to apply against a company for certain reasons; and
(b) can be the subject of a Court order providing that the provision can only start to apply against a company with the leave of the Court, and in accordance with such terms (if any) as the Court imposes. 451GA(2)
Sections 451E to 451G also apply in relation to a self-executing provision in a corresponding way to the way they apply in relation to a right. For this purpose, assume those sections apply with such modifications as are necessary, including any prescribed by the regulations for the purposes of this subsection.
Note 2: These modifications include, for example, treating:
In this section:
(a) for one or more reasons; and
(b) without any party to the contract, agreement or arrangement making a decision that the provision should start to apply.
S 451GA inserted by No 112 of 2017, s 3, Sch 1 [ 14] (applicable in relation to rights arising under, or self-executing provisions of, contracts, agreements or arrangements entered into at or after 1 July 2018).
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