Corporations Act 2001
Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .
View history note
Hide history noteThis section applies where:
(a) at a meeting convened under section 439A , a company ' s creditors have resolved that the company execute a deed of company arrangement; or
(b) a company has executed such a deed.
444F(2)
Subject to subsection 441A(3), the Court may order a secured creditor of the company not to realise or otherwise deal with the security interest, except as permitted by the order.
444F(3)
The Court may only make an order under subsection (2) if satisfied that:
(a) for the creditor to realise or otherwise deal with the security interest would have a material adverse effect on achieving the purposes of the deed; and
(b) having regard to:
(i) the terms of the deed; and
(ii) the terms of the order; and
the creditor ' s interests will be adequately protected.
(iii) any other relevant matter;
444F(4)
The Court may order the owner or lessor of property that is used or occupied by, or is in the possession of, the company not to take possession of the property or otherwise recover it.
444F(4A)
Subsection (4) does not apply in relation to PPSA retention of title property of the company.
444F(5)
The Court may only make an order under subsection (4) if satisfied that:
(a) for the owner or lessor to take possession of the property or otherwise recover it would have a material adverse effect on achieving the purposes of the deed; and
(b) having regard to:
(i) the terms of the deed; and
(ii) the terms of the order; and
the interests of the owner or lessor will be adequately protected.
(iii) any other relevant matter;
444F(6)
An order under this section may be made subject to conditions.
444F(7)
An order under this section may only be made on the application of:
(a) if paragraph (1)(a) applies - the administrator of the company; or
(b) if paragraph (1)(b) applies - the deed ' s administrator.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
