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 7 - Rights of chargee, owner or lessor

SECTION 441C   CHARGE ON PERISHABLE PROPERTY  

441C(1)  [Perishable property subject to charge]  

This section applies where perishable property of a company under administration is subject to a charge.

441C(2)  [Chargee etc may enforce charge]  

Nothing in section 437C or 440B prevents:

(a)  the chargee; or

(b)  a receiver or person appointed (at any time) as mentioned in paragraph (a), (b) or (d) of the definition of ``enforce'' in section 9;

from enforcing the charge, so far as it is a charge on perishable property.

441C(3)  [Transaction or dealing affecting perishable property]  

Section 437D does not apply in relation to a transaction or dealing that affects perishable property of the company and is entered into by:

(a)  the chargee; or

(b)  a receiver or person appointed (at any time) as mentioned in paragraph (a), (b) or (d) of the definition of `` enforce '' in section 9;

in the performance or exercise of a function or power as chargee, or as such a receiver or person, as the case may be.