Document ID: chunk:federal_register_of_legislation:C2025C00185:section:442cb
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 442CB
Character Range: 1558561–1559629

442CB  Property subject to a security interest or to a retention of title clause—administrator's duty of care in exercising power of sale
 (1) If the administrator of a company is entitled to dispose of property of the company by way of sale, and the property is subject to a security interest, the administrator must act reasonably in exercising a power of sale in respect of the property.
Note: A company's property includes its PPSA retention of title property (see the definition of property applying to Part 5.3A, in section 435B).
 (2) If:
 (a) a company is under administration; and
 (b) property is used or occupied by, or is in the possession of, the company; and
 (c) another person is the owner of the property; and
 (d) the property is subject to a retention of title clause under a contract; and
 (e) the administrator is entitled to dispose of the property by way of sale;
then, in exercising a power of sale in respect of the property, the administrator must act reasonably.
 (3) Subsections (1) and (2) do not limit section 180, 181, 182, 183 or 184.