Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3B - RESTRUCTURING OF A COMPANY  

Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .

Division 2 - Restructuring  

Subdivision C - Role of the restructuring practitioner during restructuring  

SECTION 453E   FUNCTIONS, DUTIES AND POWERS OF THE RESTRUCTURING PRACTITIONER  

453E(1)    
The functions of the restructuring practitioner for a company under restructuring are:

(a)    to provide advice to the company on matters relating to restructuring; and

(b)    to assist the company to prepare a restructuring plan; and

(c)    to make a declaration to creditors in accordance with the regulations in relation to a restructuring plan proposed to the creditors; and

(d)    any other functions given to the restructuring practitioner under this Act.

453E(2)    
The regulations may make provision for and in relation to the following:

(a)    the functions of the restructuring practitioner for a company under restructuring;

(b)    the duties of the restructuring practitioner for a company under restructuring;

(c)    the powers of the restructuring practitioner for a company under restructuring;

(d)    the rights and liabilities of a person who is or has been the restructuring practitioner for a company arising out of the performance of the functions and duties, and the exercise of the powers, of the person as restructuring practitioner.