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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 11AA - Notification of contravention of deed  

SECTION 445HA  NOTIFICATION OF CONTRAVENTION OF DEED OF COMPANY ARRANGEMENT  

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Director to notify administrator

445HA(1)  

If a director of a company that is subject to a deed of company arrangement becomes aware that:


(a) there has been a material contravention of the deed by a person bound by the deed (who may be the director); or


(b) there is likely to be a material contravention of the deed by a person bound by the deed (who may be the director);

the director must, as soon as practicable after becoming aware of the contravention or likely contravention, give notice of the contravention or likely contravention to the administrator of the deed of company arrangement. The notice must be in the prescribed form.

Administrator to notify company's creditors

445HA(2)  

If the administrator of a deed of company arrangement becomes aware that:


(a) there has been a material contravention of the deed by a person bound by the deed (who may be the administrator); or


(b) there is likely to be a material contravention of the deed by a person bound by the deed (who may be the administrator);

the administrator must, as soon as practicable after becoming aware of the contravention or likely contravention, give notice of the contravention or likely contravention to as many of the company's creditors as reasonably practicable. The notice must be in the prescribed form.


 



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