Document ID: chunk:federal_register_of_legislation:C2004C01279:clause:4_28
Version: federal_register_of_legislation:C2004C01279
Segment Type: clause
Provision Reference: sch 4 cl 28
Character Range: 107263–107885

28  At the end of section 241
Add:

 (2) The creditors may, by special resolution at a meeting called for the purpose, terminate the composition if:
 (a) property of the debtor is covered by a restraining order or a forfeiture order; or
 (b) a pecuniary penalty order made against the debtor is in force.

 (3) However:
 (a) paragraph (2)(a) does not apply if, when the composition was made, the restraining order or forfeiture order already covered the property in question; and
 (b) paragraph (2)(b) does not apply if, when the composition was made, the pecuniary penalty order was already in force against the debtor.