Corporations Regulations 2001
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Hide history noteA company under restructuring must prepare a restructuring plan that complies with the requirements of this regulation.
5.3B.15(2)
The restructuring plan must: (a) be in the form approved under regulation 5.3B.65 (if any); and (b) identify the company ' s property that is to be dealt with; and (c) specify how the property is to be dealt with; and (d) provide for the remuneration of the restructuring practitioner for the plan; and (e) specify the date on which the restructuring plan was executed.
5.3B.15(3)
The restructuring plan may: (a) authorise the restructuring practitioner for the plan to deal with the identified property in the way specified in the plan; and (aa) provide that, when performing a function or duty, or exercising a power, as restructuring practitioner for the plan, the restructuring practitioner is taken to act as agent for and on behalf of the company; and (b) provide for any matter relating to the company ' s financial affairs; and (c) be expressed to be conditional on the occurrence of a specified event within a specified period of no longer than 10 business days after the day on which the proposal to make the restructuring plan is accepted.
5.3B.15(4)
The restructuring plan must not: (a) provide for the transfer of property (other than money) to a creditor; or (b) provide for the company to make payments under the plan, in respect of an admissible debt or claim, after 3 years beginning on the day the plan is made.
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