Document ID: chunk:federal_register_of_legislation:C2007A00132:clause:4_442cc:p2
Version: federal_register_of_legislation:C2007A00132
Segment Type: clause
Provision Reference: sch 4 cl 442CC (pt 2/2)
Character Range: 169444–170281

and
 (iv) apply the amount so set aside in paying that total; or
 (g) if the net proceeds of sale fall short of the total of:
 (i) so much of the purchase price, or other amount, under the original contract as remains unpaid; and
 (ii) if there are one or more securities over the property—the debts secured by the securities;
  then:
 (iii) the administrator must set aside the net proceeds; and
 (iv) the administrator must apply the amount so set aside in paying those debts in order of priority, on the basis that if the amount is insufficient to fully pay debts of the same priority, they must be paid proportionately; and
 (v) if any of those debts is not fully paid—so much of the debt as remains unpaid may be recovered from the company as an unsecured debt.

Part 3—Liquidation following administration

Corporations Act 2001