Document ID: chunk:federal_register_of_legislation:C2024C00719:section:267:p1
Version: federal_register_of_legislation:C2024C00719
Segment Type: section
Provision Reference: s 267 (pt 1/3)
Character Range: 417828–420293

267  Vesting of unperfected security interests in the grantor upon the grantor's winding up or bankruptcy etc.

Scope
 (1) This section applies if:
 (a) any of the following events occurs:
 (i) an order is made, or a resolution is passed, for the winding up of a company or a body corporate;
 (ii) an administrator of a company or a body corporate is appointed (whether under section 436A, 436B or 436C of the Corporations Act 2001, under that section as it is applied by force of a law of a State or Territory, or otherwise);
 (iii) a company or a body corporate executes a deed of company arrangement (whether under Division 10 of Part 5.3A of the Corporations Act 2001, under that Division as it is applied by force of a law of a State or Territory, or otherwise);
 (iiia) a restructuring practitioner for a company or a body corporate is appointed (whether under section 453B of the Corporations Act 2001, under that section as it is applied by force of a law of a State or Territory, or otherwise);
 (iiib) a company or a body corporate makes a restructuring plan (whether under Division 3 of Part 5.3B of the Corporations Act 2001, under that Division as it is applied by force of a law of a State or Territory, or otherwise);
 (iiic) Division 6, or Subdivision C of Division 9, of Part 7.3B of the Corporations Act 2001 begins to apply to a body corporate;
 (iv) a sequestration order is made against a person (the bankrupt) under the Bankruptcy Act 1966;
 (v) a person (the bankrupt) becomes a bankrupt by force of section 55, 56E or 57 of the Bankruptcy Act 1966; and
 (b) a security interest granted by the body corporate, company or bankrupt is unperfected at whichever of the following times applies:
 (i) in the case of a company or body corporate that is being wound up—when, on a day, the event occurs by virtue of which the winding up is taken to have begun or commenced on that day (whether under section 513A or 513B of the Corporations Act 2001, under either section as applied by force of a law of a State or Territory, or otherwise);
 (ii) in the case of a company or a body corporate to which subparagraph (a)(ii) or (iii) applies—when, on a day, the event occurs by virtue of which the day is the section 513C day for the company or body, within the meaning of the Corporations Act 2001 (including that Act as it is applied by force of a law of a State or Territory, or otherwise);
 (iia) in the case of a company or a body corporate to which