Corporations Act 2001
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 secured party, owner or lessor
Subdivision C
-
Property not subject to security interests
SECTION 441F
WHERE RECOVERY OF PROPERTY BEGINS BEFORE ADMINISTRATION
441F(1)
This section applies if, before the beginning of the administration of a company, a receiver or other person:
(a) entered into possession, or assumed control, of property used or occupied by, or in the possession of, the company; or
(b) exercised any other power in relation to such property;
441F(2)
Nothing in section 198G or 440B prevents the receiver or other person from performing a function, or exercising a power, in relation to the property.
441F(3)
Section 437D does not apply in relation to a transaction or dealing that affects the property and is entered into in the performance or exercise of a function or power of the receiver or other person.
Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .
View history note
Hide history noteThis section applies if, before the beginning of the administration of a company, a receiver or other person:
(a) entered into possession, or assumed control, of property used or occupied by, or in the possession of, the company; or
(b) exercised any other power in relation to such property;
for the purpose of enforcing a right of the owner or lessor of the property to take possession of the property or otherwise recover it.
441F(2)
Nothing in section 198G or 440B prevents the receiver or other person from performing a function, or exercising a power, in relation to the property.
[ CCH Note: Regulation 10.25.02(3)(g) (which was effective 1 March 2017) provides that the amendments made by No 11 of 2016, s 3, Sch 2[114] apply in relation to external administrations on and after 1 September 2017.]
441F(3)
Section 437D does not apply in relation to a transaction or dealing that affects the property and is entered into in the performance or exercise of a function or power of the receiver or other person.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.