Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 418A

(1)

Where there is doubt, on a specific ground, about:

(a)

whether a purported appointment of a person, after the commencement of this section, as receiver of property of a corporation is valid; or

(b)

whether a person who has entered into possession, or assumed control, of property of a corporation after the commencement of this section did so validly under the terms of a charge on that property;

the person, the corporation or any of the corporation's creditors may apply to the Court for an order under subsection (2).

(2)

On an application, the Court may make an order declaring whether or not:

(a)

the purported appointment was valid; or

(b)

the person entered into possession, or assumed control, validly under the terms of the charge;

as the case may be, on the ground specified in the application or on some other ground.