Commonwealth Consolidated Regulations

CORPORATIONS REGULATIONS 2001 - REG 5.3B.30

  (1)   Until a restructuring plan terminates, this regulation applies to a person bound by the plan.

  (2)   A person bound by the plan cannot:

  (a)   make an application for an order to wind up the company on the basis of an admissible debt or claim; or

  (b)   proceed with such an application made before the plan became binding on the person.

  (3)   A person bound by the plan cannot:

  (a)   begin or proceed with a proceeding against the company or in relation to any of its property to recover an admissible debt or claim; or

  (b)   begin or proceed with an enforcement process in relation to property of the company to recover an admissible debt or claim;

except:

  (c)   with the leave of the Court; and

  (d)   in accordance with such terms (if any) as the Court imposes.