Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 453E

  (1)   The functions of the restructuring practitioner for a company under restructuring are:

  (a)   to provide advice to the company on matters relating to restructuring; and

  (b)   to assist the company to prepare a restructuring plan; and

  (c)   to make a declaration to creditors in accordance with the regulations in relation to a restructuring plan proposed to the creditors; and

  (d)   any other functions given to the restructuring practitioner under this Act.

  (2)   The regulations may make provision for and in relation to the following:

  (a)   the functions of the restructuring practitioner for a company under restructuring;

  (b)   the duties of the restructuring practitioner for a company under restructuring;

  (c)   the powers of the restructuring practitioner for a company under restructuring;

  (d)   the rights and liabilities of a person who is or has been the restructuring practitioner for a company arising out of the performance of the functions and duties, and the exercise of the powers, of the person as restructuring practitioner.