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 10 - Execution and effect of deed of company arrangement

SECTION 444C   CREDITOR ETC. NOT TO ACT INCONSISTENTLY WITH DEED BEFORE ITS EXECUTION  

444C(1)  [Application of section]  

Where, at a meeting convened under section 439A, a company's creditors resolve that the company execute a deed of company arrangement, this section applies until:

(a)  the deed is executed by both the company and the deed's administrator; or

(b)  the period within which subsection 444B(2) requires the company to execute the deed ends;

whichever happens sooner.

444C(2)  [Binding effect of deed before execution]  

In so far as a person would be bound by the deed if it had already been so executed, the person:

(a)  must not do anything inconsistent with the deed, except with the leave of the Court; and

(b)  is subject to section 444E.