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 F - Rights of secured party, owner or lessor during restructuring  

SECTION 454K   WHERE RECOVERY OF PROPERTY BEGINS BEFORE RESTRUCTURING  

454K(1)    
This section applies if, before the beginning of the restructuring of a company, a receiver or other person:

(a)    entered into possession, or assumed control, of property used or occupied by, or in the possession of, the company; or

(b)    exercised any other power in relation to such property;

for the purpose of enforcing a right of the owner or lessor of the property to take possession of the property or otherwise recover it.

454K(2)    
Nothing in section 453K or 453R prevents the receiver or other person from performing a function, or exercising a power, in relation to the property.