Corporations Regulations 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3B - RESTRUCTURING OF A COMPANY  

Division 3 - Restructuring plan  

Subdivision D - Restructuring practitioner for a restructuring plan  

REGULATION 5.3B.43  

5.3B.43   RIGHT OF INDEMNITY  

A person who is or has been the restructuring practitioner for a company ' s restructuring plan is entitled to be indemnified out of the company ' s property (other than any PPSA retention of title property subject to a PPSA security interest that is perfected within the meaning of the Personal Property Securities Act 2009 ) for:

(a)    any debts or liabilities incurred, or damages or losses sustained, in good faith and without negligence, by the restructuring practitioner:

(i) in the performance or purported performance of the restructuring practitioner ' s functions or duties; or

(ii) in the exercise or purported exercise of the restructuring practitioner ' s powers; and

(b)    the remuneration to which the restructuring practitioner is entitled under Insolvency Practice Rules made under Subdivision DA of Division 60 of Schedule 2 to the Act.