Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p43
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 43/110)
Character Range: 262451–265199

445A or paragraph

     445C(b) that the deed's administrator proposes that the meeting vote on; and

     (b) if the meeting is convened under paragraph (1)(b) of this section—set out each proposed resolution under section 445A or paragraph 445C(b) that is set out in the request.

"(4) At a meeting convened under this section, the deed's administrator is to preside.

"(5) A meeting convened under this section may be adjourned from time to time.

When Court may void or validate deed

"445G.(1) Where there is doubt, on a specific ground, whether a deed of company arrangement was entered into in accordance with this Part or complies with this Part, the administrator of the deed, a member or creditor of the company, or the Commission, may apply to the Court for an order under this section.

"(2) On an application, the Court may make an order declaring the deed, or a provision of it, to be void or not to be void, as the case requires, on the ground specified in the application or some other ground.

"(3) On an application, the Court may declare the deed, or a provision of it, to be valid, despite a contravention of a provision of this Part, if the Court is satisfied that:

   (a)     the provision was substantially complied with; and

     (b)     no injustice will result for anyone bound by the deed if the contravention is disregarded.

"(4) Where the Court declares a provision of a deed of company arrangement to be void, the Court may by order vary the deed, but only with the consent of the deed's administrator.

Effect of termination or avoidance

"445H. The termination or avoidance, in whole or in part, of a deed of company arrangement does not affect the previous operation of the deed.

"Division 12—Transition to creditors' voluntary winding up

Administrator becomes liquidator in certain cases

  "446A.(1) This section applies if:

     (a)     the creditors of a company under administration resolve at a particular time under paragraph 439C(c) that the company be wound up; or

     (b)     a company under administration contravenes subsection 444B(2) at a particular time; or

     (c) at a meeting convened under section 445F, a company's creditors:

         (i) pass a resolution terminating a deed of company arrangement executed by the company; and

         (ii) also resolve at a particular time under section 445E that the company be wound up.

  "(2) The company is taken:

  (a) to have passed, at the time referred to in paragraph (1)(a) or

     (b) or subparagraph (1)(c)(ii), as the case may be, a special resolution under section 491 that the company be wound up voluntarily; and

    (b) to have done so without a declaration having been made and lodged under section 494.

"(3) Section 497