THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW

THE CORPORATIONS LAW   82 

The Corporations Law is as follows:...

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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History

Pt 5.3A inserted by No 210 of 1992, s 56 (effective 23 June 1993).

Division 10 - Execution and effect of deed of company arrangement

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Heading inserted by No 210 of 1992, s 56 (effective 23 June 1993).

SECTION 444C   CREDITOR ETC. NOT TO ACT INCONSISTENTLY WITH DEED BEFORE ITS EXECUTION  

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444C(1)  [Application of section]  

Where, at a meeting convened under section 439A, a company's creditors resolve that the company execute a deed of company arrangement, this section applies until:

(a)  the deed is executed by both the company and the deed's administrator; or

(b)  the period within which subsection 444B(2) requires the company to execute the deed ends;

whichever happens sooner.

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S 444C(1) inserted by No 210 of 1992, s 56 (effective 23 June 1993).

444C(2)  [Binding effect of deed before execution]  

In so far as a person would be bound by the deed if it had already been so executed, the person:

(a)  must not do anything inconsistent with the deed, except with the leave of the Court; and

(b)  is subject to section 444E.

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History

S 444C(2) inserted by No 210 of 1992, s 56 (effective 23 June 1993).

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