Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3B - RESTRUCTURING OF A COMPANY  

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

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Pt 5.3B amended by No 8 of 2022, s 3, Sch 2[145] (effective 1 July 2022).

Pt 5.3B inserted by No 130 of 2020, s 3, Sch 1[1] (effective 1 January 2021).

Division 2 - Restructuring  

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Div 2 inserted by No 130 of 2020, s 3, Sch 1[1] (effective 1 January 2021).

Subdivision E - Effect on company etc. during restructuring  

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Subdiv E inserted by No 130 of 2020, s 3, Sch 1[1] (effective 1 January 2021).

SECTION 453Q   WINDING UP COMPANY  

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453Q(1)    
The Court is to adjourn the hearing of an application for an order to wind up a company if the company is under restructuring and the Court is satisfied that it is in the interests of the company ' s creditors for the company to continue under restructuring rather than be wound up.

453Q(2)    
The Court is not to appoint a provisional liquidator of a company if the company is under restructuring and the Court is satisfied that it is in the interests of the company ' s creditors for the company to continue under restructuring rather than have a provisional liquidator appointed.

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S 453Q inserted by No 130 of 2020, s 3, Sch 1[1] (effective 1 January 2021).

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