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 453S   STAY OF PROCEEDINGS  

453S(1)    
During the restructuring of a company, a proceeding in a court against the company or in relation to any of its property cannot be begun or proceeded with, except:

(a)    with the restructuring practitioner ' s written consent; or

(b)    with the leave of the Court and in accordance with such terms (if any) as the Court imposes.

453S(2)    
Subsection (1) does not apply to:

(a)    a criminal proceeding; or

(b)    a prescribed proceeding.