Corporations Regulations 2001

SCHEDULE 8A - DEED OF COMPANY ARRANGEMENT - PRESCRIBED PROVISIONS  

(regulation 5.3A.06)

2  

2   Powers of administrator  
For the purpose only of administering this deed, the administrator has the following powers:

(a) to enter upon or take possession of the property of the company;

(b) to lease or let on hire property of the company;

(c) to grant options over property of the company on such conditions as the administrator thinks fit;

(d) to insure property of the company;

(e) to repair, renew or enlarge property of the company;

(f) to call in, collect or convert into money the property of the company;

(g) to administer the assets available for the payment of claims of creditors in accordance with the provisions of this deed;

(h) to purchase, hire, lease or otherwise acquire any property or interest in property from any person or corporation;

(i) to borrow or raise money, whether secured upon any or all of the assets of the company or unsecured, for any period on such terms as the administrator thinks fit and whether in substitution for any existing security or otherwise;

(j) to bring, prosecute and defend in the name and on behalf of the company or in the name of the administrator any actions, suits or proceedings;

(k) to refer to arbitration any question affecting the company;

(l) to make payments to any secured creditor of the company and any person who is the owner or lessor of property possessed used or occupied by the company;

(m) to convene and hold meetings of the members or creditors of the company for any purpose the administrator thinks fit;

(n) to make interim or other distributions of the proceeds of the realisation of the assets available for the payment of claims of creditors as provided in this deed;

(o) to appoint agents to do any business or to attend to any matter or affairs of the company that the administrator is unable to do, or that it is unreasonable to expect the administrator to do, in person;

(p) to engage or discharge employees on behalf of the company;

(q) to appoint a solicitor, accountant or other professionally qualified person to assist the administrator;

(r) to permit any person authorised by the administrator to operate any account in the name of the company;

(s) to sell, call in or convert into money any of the property of the company, to apply the money in accordance with this deed and otherwise effectively and properly to carry out his or her duties as administrator;

(t) to do all acts and execute in the name and on behalf of the company all deeds, receipts and other documents, using the company's common or official seal when necessary;

(u) subject to the Bankruptcy Act 1966 , to prove in the bankruptcy of any contributory or debtor of the company or under any deed executed under that Act;

(v) subject to the Act, to prove in the winding up of any contributory or debtor of the company or under any scheme of arrangement entered into, or deed of company arrangement executed, under the Act;

(w) to draw, accept, make or endorse any bill of exchange or promissory note in the name and on behalf of the company;

(x) to take out letters of administration of the estate of a deceased contributory or debtor, and do any other act necessary for obtaining payment of any money due from a contributory or debtor, or the estate of a contributory or debtor, that cannot be conveniently done in the name of the company;

(y) to bring or defend an application for the winding up of the company;

(z) to carry on the business of the company on such terms and conditions and for such purposes and times and in such manner as the administrator thinks fit subject only to the limitations imposed by this deed;

(za) to sell any or all of the property of the company including the whole of the business or undertaking of the company at any time the administrator thinks fit, either by public auction or by private contract and either for a lump sum or for a sum payable by instalments or for a sum on account and to obtain a mortgage charge or encumbrance for the balance or otherwise;

(zb) to close down the whole or any part of any business of the company;

(zc) to enter into and complete any contract for the sale of shares in the company;

(zd) to compromise any debts or claims brought by or against the company on such terms as the administrator thinks fit and to take security for the discharge of any debt forming part of the property of the company;

(ze) to pay any class of creditors in full, subject to Subdivision D of Division 6 of Part 5.6 of the Act;

(zf) to do anything that is incidental to exercising a power set out in this clause;

(zg) to do anything else that is necessary or convenient for the purpose of administering this deed.