Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p13
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 13/60)
Character Range: 214272–217055

company under restructuring or a company's restructuring plan, means a debt or claim that would be admissible to proof against the company under subsection 553(1) of the Act if:
 (a) the company were wound up; and
 (b) the relevant date were:
 (i) if the company is under restructuring—the beginning of the restructuring; and
 (ii) if the company has made a restructuring plan—the beginning of the restructuring that ended when the plan was made;
but does not include:
 (c) the entitlements of an employee of the company; or
 (d) a debt or claim that would be admissible to proof under subsection 553(1A) of the Act.
Note: Employee entitlements are defined in subsections 596AA(2) and (3) of the Act and include superannuation contributions payable by the company.
affected creditor means:
 (a) in relation to a proposal to vary or terminate a company's restructuring plan—a creditor of the company who is a party (as creditor) to the plan; or
 (b) in relation to a proposal by a company to make a restructuring plan—a person who would be a party to the restructuring plan if it were made.
excluded creditor, in relation to a company under restructuring, means a creditor of the company who:
 (a) is the restructuring practitioner for the company; or
 (b) was, at the time the restructuring began, a related creditor of the company; or
 (c) was, on becoming an affected creditor, a related entity of the restructuring practitioner.
make, in relation to a restructuring plan, has the meaning given by regulation 5.3B.26.
proposal period, in relation to a company under restructuring, has the meaning given by regulation 5.3B.17.
propose, in relation to a restructuring plan, has the meaning given by regulation 5.3B.14.
related creditor of a company means a person who is a related entity, and a creditor, of the company.
restructuring proposal statement means a statement made by a company under regulation 5.3B.16.

Division 2—Restructuring

Subdivision A—Restructuring generally

5.3B.02  When restructuring ends
 (1) For the purposes of paragraph 453A(b) of the Act, the restructuring of a company ends if:
 (a) the company makes a declaration under subregulation (2); or
 (b) the company fails to propose a restructuring plan within the proposal period; or
 (c) the company's proposal to make a restructuring plan lapses under regulation 5.3B.20; or
 (d) the restructuring practitioner for the company terminates the restructuring under section 453J of the Act; or
 (e) the Court orders that the restructuring of the company is to end; or
 (f) an administrator of the company is appointed under section 436A, 436B or 436C of the Act; or
 (g) a liquidator or provisional liquidator of the company is appointed; or
 (j) the company makes a restructuring plan.
 (2) The directors of