CORPORATIONS ACT 2001
ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT
Div 7 heading substituted by No 96 of 2010, s 3, Sch 1, Pt 3
35] (effective 30 January 2012).
Div 7 heading substituted by No 132 of 2007, s 3, Sch 4, Pt 2
50] (effective 31 December 2007).
Subdiv B heading inserted by No 96 of 2010, s 3, Sch 1, Pt 3
36] (effective 30 January 2012).
This section applies if perishable property of a company under administration is subject to a security interest.
Power of enforcement by secured party, receiver or controller
Nothing in section
, or in an order under subsection
, prevents any of the following from enforcing the security interest, so far as it is a security interest in perishable property:
(a) the secured party;
(b) a receiver or controller appointed for the purposes of Part
(whether under an instrument relating to the security interest or a court order, and even if appointed after the decision period).
Regulation 10.25.02(3)(g) (which was effective 1 March 2017) provides that the amendments made by No 11 of 2016, s 3, Sch 2 apply in relation to external administrations on and after 1 September 2017.]
S 441C(2) amended by No 112 of 2017, s 3, Sch 1 (applicable in relation to rights arising under, or self-executing provisions of, contracts, agreements or arrangements entered into at or after 1 July 2018).
S 441C(2) amended by No 11 of 2016, s 3, Sch 2 (effective 1 March 2017).
does not apply in relation to a transaction or dealing that affects perishable property of the company and is entered into by:
(a) the secured party in the performance or exercise of a function or power as secured party; or
(b) a receiver or controller mentioned in paragraph (2)(b) of this section, in the performance or exercise of a function or power as such a receiver or controller.
S 441C substituted by No 96 of 2010, s 3, Sch 1, Pt 3
37] (effective 30 January 2012).