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

Schedule 4   Fine-tuning voluntary administration

Part 1   General

Corporations Act 2001

42   At the end of section 450E

Add:

(4) The Court may only grant leave under subsection (2) on the application of:

(a) the administrator of the deed of company arrangement; or

(b) any interested person.

(5) The Court may only grant leave under subsection (2) if it is satisfied that the granting of leave will not result in any significant risk to the interests of the company's creditors (including contingent or prospective creditors) as a whole.