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 4 - The restructuring practitioner  

Subdivision C - Rights, obligations and liabilities in relation to the restructuring practitioner  

SECTION 456LB   PROTECTION OF PERSONS DEALING WITH RESTRUCTURING PRACTITIONER  

456LB(1)  
Sections 128 and 129 apply in relation to a company that is under restructuring as if:

(a)  a reference in those sections to the company, or to an officer of the company, included a reference to the restructuring practitioner for the company; and

(b)  a reference in those sections to an assumption referred to in section 129 included a reference to an assumption that the restructuring practitioner is:


(i) acting within the restructuring practitioner ' s functions and powers as restructuring practitioner; and

(ii) in particular, is complying with this Act.

456LB(2)  
Sections 128 and 129 apply in relation to a company that has made a restructuring plan as if:

(a)  a reference in those sections to the company, or to an officer of the company, included a reference to the restructuring practitioner for the plan; and

(b)  a reference in those sections to an assumption referred to in section 129 included a reference to an assumption that the restructuring practitioner is:


(i) acting within the restructuring practitioner ' s functions and powers as restructuring practitioner; and

(ii) in particular, is complying with this Act.

456LB(3)  
The effect that sections 128 and 129 have because of subsections (1) and (2) of this section is additional to, and does not prejudice, the effect that sections 128 and 129 otherwise have in relation to a company that is under restructuring or that has made a restructuring plan.


 

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.