Document ID: chunk:federal_register_of_legislation:C2020A00130:clause:1_453x
Version: federal_register_of_legislation:C2020A00130
Segment Type: clause
Provision Reference: sch 1 cl 453X
Character Range: 33015–33741

453X  Property subject to a banker's lien—exemption from this Subdivision
  If:
 (a) a company is under restructuring; and
 (b) property of the company consists of:
 (i) cash in the form of notes or coins; or
 (ii) a negotiable instrument; or
 (iii) a security (as defined by subsection 92(1)); or
 (iv) a derivative (as defined in Chapter 7); and
 (c) the property is subject to a possessory security interest; and
 (d) the secured party is:
 (i) an ADI (within the meaning of the Banking Act 1959); or
 (ii) the operator of a clearing and settlement facility (within the meaning of section 768A);
this Subdivision does not apply to the property.

Subdivision F—Rights of secured party, owner or lessor during restructuring