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CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT  

Division 8 - Powers of administrator  

SECTION 442CA  PROPERTY SUBJECT TO A POSSESSORY SECURITY INTEREST - INSPECTION OR EXAMINATION BY POTENTIAL PURCHASERS ETC.  

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442CA(1)  

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If:


(a) a company is under administration; and


(b) property of the company is subject to a possessory security interest; and
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(c) the administrator is entitled to dispose of the property by way of sale;

the secured party must, if requested to do so by the administrator, give potential purchasers a reasonable opportunity to inspect or examine the property.

442CA(2)  

If:


(a) a company is under administration; and


(b) property of the company is subject to a possessory security interest; and
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(c) the administrator disposes of the property by way of sale;

the administrator is entitled to obtain possession of the property in order to effect the sale.


 



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