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 noteThe restructuring practitioner for a company under restructuring may, at any time, terminate the restructuring of the company: (a) if the restructuring practitioner believes on reasonable grounds that:
(i) the company does not meet the eligibility criteria for restructuring; or
(ii) it would not be in the interests of the creditors to make a restructuring plan; or
(iii) it would be in the interests of the creditors for the restructuring to end; or
(b) on any other grounds prescribed by the regulations.
(iv) it would be in the interests of the creditors for the company to be wound up; or
453J(2)
The restructuring practitioner for a company under restructuring terminates the restructuring of the company by giving notice in accordance with this section.
453J(3)
The notice must: (a) be in writing; and (b) include all information prescribed by the regulations; and (c) be given to:
(i) the company; and
(ii) as many of the company ' s creditors as reasonably practicable.
453J(4)
The termination takes effect on the day on which notice under this section is given to the company.
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