Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

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

Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .

Division 8 - Powers of administrator  

SECTION 442CA   PROPERTY SUBJECT TO A POSSESSORY SECURITY INTEREST - INSPECTION OR EXAMINATION BY POTENTIAL PURCHASERS ETC.  

442CA(1)    

If:

(a) a company is under administration; and

(b) property of the company is subject to a possessory security interest; and

(c) the administrator is entitled to dispose of the property by way of sale;

the secured party must, if requested to do so by the administrator, give potential purchasers a reasonable opportunity to inspect or examine the property.

442CA(2)    
If:

(a) a company is under administration; and

(b) property of the company is subject to a possessory security interest; and

(c) the administrator disposes of the property by way of sale;

the administrator is entitled to obtain possession of the property in order to effect the sale.