THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT

Division 1 - Preliminary

SECTION 435A   OBJECT OF PART  

435A    The object of this Part is to provide for the business, property and affairs of an insolvent company to be administered in a way that:

(a)  maximises the chances of the company, or as much as possible of its business, continuing in existence; or

(b)  if it is not possible for the company or its business to continue in existence - results in a better return for the company's creditors and members than would result from an immediate winding up of the company.