Corporations Amendment (Insolvency) Act 2007 (132 of 2007)

Schedule 4   Fine-tuning voluntary administration

Part 1   General

Corporations Act 2001

33   After section 445C

Insert:

445CA When creditors may terminate deed

The creditors are not entitled to pass a resolution under paragraph 445C(b) unless:

(a) there has been a breach of the deed; and

(b) the breach has not been rectified before the resolution is passed.