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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 11 - Variation, termination and avoidance of deed  

SECTION 445FA  NOTICE OF TERMINATION OF DEED  

 View history reference

445FA(1)  [Contents of notice]  


If a company is subject to a deed of company arrangement, and:


(a) the administrator of the deed has applied all of the proceeds of the realisation of the assets available for the payment of creditors; or


(b) the administrator of the deed has paid to the creditors:


(i) the sum of 100 cents in the dollar; or

(ii) any lesser sum determined by the creditors at a general meeting; or


(c) all of the following conditions are satisfied:


(i) the company's obligations under the deed have been fulfilled;

(ii) the obligations of any other party to the deed have been fulfilled;

(iii) creditors' claims under the deed have been dealt with in accordance with the deed;

the administrator of the deed must:


(d) certify to that effect in writing; and


(e) within 28 days, lodge with ASIC a notice of termination of the deed.

445FA(2)  [Form of notice]  


The notice of termination must be in the prescribed form.

Note: For termination of the deed, see section 445C.


 



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