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 444E   PROTECTION OF COMPANY'S PROPERTY FROM PERSONS BOUND BY DEED  

444E(1)  [Until deed terminates]  

Until a deed of company arrangement terminates, this section applies to a person bound by the deed.

444E(2)  [Winding up application]  

The person cannot:

(a)  make an application for an order to wind up the company; or

(b)  proceed with such an application made before the deed became binding on the person.

444E(3)  [Proceedings against company]  

The person cannot:

(a)  begin or proceed with a proceeding against the company or in relation to any of its property; or

(b)  begin or proceed with enforcement process in relation to property of the company;

except:

(c)  with the leave of the Court; and

(d)  in accordance with such terms (if any) as the Court imposes.

444E(4)  [``property'']  

In subsection (3):

``property'' in relation to the company, includes property used or occupied by, or in the possession of, the company.