Document ID: chunk:federal_register_of_legislation:C2013C00609:clause:1_135
Version: federal_register_of_legislation:C2013C00609
Segment Type: clause
Provision Reference: sch 1 cl 135
Character Range: 47933–48506

135  Subsection 442CB(1)
Repeal the subsection, substitute:
 (1) If the administrator of a company is entitled to dispose of property of the company by way of sale, and the property is subject to a security interest, the administrator must act reasonably in exercising a power of sale in respect of the property.
Note: A company's property includes its PPSA retention of title property (see the definition of property applying to Part 5.3A, in section 435B).
Note: The heading to section 442CB is altered by omitting "lien or pledge" and substituting "security interest".