Corporations Act 2001
Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .
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View history notePt 5.3B amended by No 8 of 2022, s 3, Sch 2[145] (effective 1 July 2022).
Pt 5.3B inserted by No 130 of 2020, s 3, Sch 1[1] (effective 1 January 2021).
Div 2 inserted by No 130 of 2020, s 3, Sch 1[1] (effective 1 January 2021).
Subdiv D inserted by No 130 of 2020, s 3, Sch 1[1] (effective 1 January 2021).
Subject to this Part, while a company is under restructuring the company has control of the company ' s business, property and affairs.
453K(2)
While a company is under restructuring, a receiver or controller appointed for the purposes of Part 5.2 (whether under an instrument relating to a security interest or a court order) may only perform the functions and exercise the powers of a receiver or controller in relation to a security interest if: (a) section 454C , 454D or 454E applies to the enforcement of the security interest; or (b) section 454K or 454L applies to the enforcement of a right, or the performance or exercise of a function or power, over property to which the security interest relates.
S 453K inserted by No 130 of 2020, s 3, Sch 1[1] (effective 1 January 2021).
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