administration (1) This section applies if, before the beginning of the
administration of a company, a chargee, receiver or other person:
- (a)
- entered into possession, or assumed control, of property of the company; or
- (b)
- entered into an agreement to sell such property; or
- (c)
- made arrangements for such property to be offered for sale by public
auction; or
- (d)
- publicly invited tenders for the purchase of such property; or
- (e)
- exercised any other power in relation to such property;
for the purpose of enforcing a charge on that property.
(2) Nothing in section 437C or 440B prevents the chargee, receiver or
other person from enforcing the charge in relation to that property.
(3) Section 437D does not apply in relation to a transaction or dealing
that affects that property and is entered into:
- (a)
- in the exercise of a
power of the chargee as chargee; or
- (b)
- in the performance or exercise of a function or power of the receiver or
other person;
as the case may be.
Commonwealth Numbered Acts