Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3B - RESTRUCTURING OF A COMPANY  

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

Division 2 - Restructuring  

Subdivision F - Rights of secured party, owner or lessor during restructuring  

SECTION 454D   WHERE ENFORCEMENT OF SECURITY INTEREST BEGINS BEFORE RESTRUCTURING  

454D(1)    
This section applies if, before the beginning of the restructuring of a company, a secured party, receiver or other person:

(a)    entered into possession, or assumed control, of property of the company; or

(b)    entered into an agreement to sell such property; or

(c)    made arrangements for such property to be offered for sale by public auction; or

(d)    publicly invited tenders for the purchase of such property; or

(e)    exercised any other power in relation to such property;

for the purpose of enforcing a security interest in that property.


454D(2)    
Nothing in section 453K , 453R , 453T , 453U or 454N , or in an order made under subsection 454P(1) , prevents the secured party, receiver or other person from enforcing the security interest in relation to that property.


 

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.