THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT

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Division 7 - Rights of chargee, owner or lessor

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SECTION 441H   COURT MAY LIMIT POWERS OF RECEIVER ETC IN RELATION TO PROPERTY USED BY COMPANY  

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441H(1)  [Owners or lessors of property used by company]  

This section applies if:

(a)  for the purpose of enforcing a right of the owner or lessor of property used or occupied by, or in the possession of, a company to take possession of the property or otherwise recover it, a person:

(i) enters into possession, or assumes control, of the property; or
(ii) exercises any other power in relation to the property; and

(b)  the company is under administration when the person does so, or the company later begins to be under administration.

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441H(2)  [Court order]  

On application by the administrator, the Court may order the person not to perform specified functions, or exercise specified powers, in relation to the property, except as permitted by the order.

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441H(3)  [Protection of interests of owner or lessor]  

The Court may only make an order if satisfied that what the administrator proposes to do during the administration will adequately protect the interests of the owner or lessor.

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441H(4)  [Effect of order]  

An order may only be made, and only has effect, during the administration.

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441H(5)  [Sec 441F and 441G]  

An order has effect despite sections 441F and 441G.

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