Commonwealth Repealed Acts
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This legislation has been repealed.
CORPORATIONS LAW- SECT 441D
Court may limit powers of chargee etc. in relation to charged property
- (1)
- This section applies if:
- (a)
- for the purpose of enforcing a
charge on property of a company, the chargee, or a receiver or other person,
does an act of a kind referred to in a paragraph of subsection 441B(1);
and
- (b)
- the company is under administration when the chargee, receiver or
other person does the act, or the company later begins to be under
administration;
but does not apply in a case where section 441A applies.
- (2)
- On application by the administrator, the Court may order
the chargee, receiver or other person not to perform specified functions, or
exercise specified powers, except as permitted by the order.
- (3)
- The Court may only make an order if satisfied that what the
administrator proposes to do during the administration will adequately protect
the chargee's interests.
- (4)
- An order may only be made, and only has effect, during the
administration.
- (5)
- An order has effect despite sections 441B and 441C.
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