Corporations Regulations 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3B - RESTRUCTURING OF A COMPANY  

Division 3 - Restructuring plan  

Subdivision B - Proposing a restructuring plan  

REGULATION 5.3B.15   CONTENTS OF RESTRUCTURING PLAN  

5.3B.15(1)    
A company under restructuring must prepare a restructuring plan that complies with the requirements of this regulation.

5.3B.15(2)    
The restructuring plan must:

(a)    be in the form approved under regulation 5.3B.65 (if any); and

(b)    identify the company ' s property that is to be dealt with; and

(c)    specify how the property is to be dealt with; and

(d)    provide for the remuneration of the restructuring practitioner for the plan; and

(e)    specify the date on which the restructuring plan was executed.

5.3B.15(3)    
The restructuring plan may:

(a)    authorise the restructuring practitioner for the plan to deal with the identified property in the way specified in the plan; and

(aa)    

provide that, when performing a function or duty, or exercising a power, as restructuring practitioner for the plan, the restructuring practitioner is taken to act as agent for and on behalf of the company; and

(b)    provide for any matter relating to the company ' s financial affairs; and

(c)    be expressed to be conditional on the occurrence of a specified event within a specified period of no longer than 10 business days after the day on which the proposal to make the restructuring plan is accepted.

5.3B.15(4)    
The restructuring plan must not:

(a)    provide for the transfer of property (other than money) to a creditor; or

(b)    provide for the company to make payments under the plan, in respect of an admissible debt or claim, after 3 years beginning on the day the plan is made.