Document ID: chunk:federal_register_of_legislation:C2025C00185:section:453k
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 453K
Character Range: 1639136–1639893

453K  Control of company under restructuring
 (1) Subject to this Part, while a company is under restructuring the company has control of the company's business, property and affairs.
 (2) While a company is under restructuring, a receiver or controller appointed for the purposes of Part 5.2 (whether under an instrument relating to a security interest or a court order) may only perform the functions and exercise the powers of a receiver or controller in relation to a security interest if:
 (a) section 454C, 454D or 454E applies to the enforcement of the security interest; or
 (b) section 454K or 454L applies to the enforcement of a right, or the performance or exercise of a function or power, over property to which the security interest relates.