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 E - Effect on company etc. during restructuring  

SECTION 453Q   WINDING UP COMPANY  

453Q(1)    
The Court is to adjourn the hearing of an application for an order to wind up a company if the company is under restructuring and the Court is satisfied that it is in the interests of the company ' s creditors for the company to continue under restructuring rather than be wound up.

453Q(2)    
The Court is not to appoint a provisional liquidator of a company if the company is under restructuring and the Court is satisfied that it is in the interests of the company ' s creditors for the company to continue under restructuring rather than have a provisional liquidator appointed.