Personal Property Securities (Corporations and Other Amendments) Act 2010 (96 of 2010)

Schedule 1   Corporations Act 2001

Part 3   Charges and chargees

Divison 1   Specific amendments

34   Subsection 436C(1)

Repeal the subsection, substitute:

(1) A person who is entitled to enforce a security interest in the whole, or substantially the whole, of a company's property may by writing appoint an administrator of the company if the security interest has become, and is still, enforceable.

(1A) Subsection (1) applies in relation to a PPSA security interest only if the security interest is perfected within the meaning of the Personal Property Securities Act 2009.

Note: The heading to section 436C is altered by omitting " Chargee " and substituting " Secured party ".