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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 10 - Execution and effect of deed of company arrangement  

SECTION 444GA  TRANSFER OF SHARES  

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444GA(1)  [Who must approve transfer]  


The administrator of a deed of company arrangement may transfer shares in the company if the administrator has obtained:


(a) the written consent of the owner of the shares; or


(b) the leave of the Court.

444GA(2)  [Who may oppose]  


A person is not entitled to oppose an application for leave under subsection (1) unless the person is:


(a) a member of the company; or


(b) a creditor of the company; or


(c) any other interested person; or


(d) ASIC.

444GA(3)  [What Court must consider]  


The Court may only give leave under subsection (1) if it is satisfied that the transfer would not unfairly prejudice the interests of members of the company.


 



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