Document ID: chunk:federal_register_of_legislation:C2004A04501:body:0:p4
Version: federal_register_of_legislation:C2004A04501
Segment Type: other
Provision Reference: 
Character Range: 24772–32921

new Part:
         PART 5.3A—ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT
         Division 1—Preliminary
           435A.                                                                                                 Object of Part
           435B.                                                                                                 Interpretation
           435C.                                                                                                 When administration begins and ends
         Division 2—Appointment of administrator and first meeting of creditors
           436A.                                                                                                 Company may appoint administrator if board thinks it is or will become insolvent
           436B.                                                                                                 Liquidator may appoint administrator
           436C.                                                                                                 Chargee may appoint administrator
           436D.                                                                                                 Company already under administration
           436E.                                                                                                 Purpose and timing of first meeting of creditors
           436F.                                                                                                 Functions of committee of creditors
           436G.                                                                                                 Membership of committee
         Division 3—Administrator assumes control of company's affairs
           437A.                                                                                                 Role of administrator
           437B.                                                                                                 Administrator acts as company's agent
           437C.                                                                                                 Powers of other officers suspended
           437D.                                                                                                 Only administrator can deal with company's property
           437E.                                                                                                 Order for compensation where officer involved in void transaction
           437F.                                                                                                 Effect of administration on company's members
         Division 4—Administrator investigates company's affairs
           438A.                                                                                                 Administrator to investigate affairs and consider possible courses of action
           438B.                                                                                                 Directors to help administrator
           438C.                                                                                                 Administrator's rights to company's books
           438D.                                                                                                 Reports by administrator
         Division 5—Meeting of creditors decides company's future
           439A.                                                                                                 Administrator to convene meeting and inform creditors
           439B.                                                                                                 Conduct of meeting
           439C.                                                                                                 What creditors may decide

TABLE OF PROVISIONS—continued

Section
         Division 6—Protection of company's property during administration
           440A.                                                                         Winding up company
           440B.                                                                         Charge unenforceable
           440C.                                                                         Owner or lessor cannot recover property used by company
           440D.                                                                         Stay of proceedings
           440E.                                                                         Administrator not liable in damages for refusing consent
           440F.                                                                         Suspension of enforcement process
           440G.                                                                         Duties of court officer in relation to property of company
           440H.                                                                         Lis pendens taken to exist.
           440J.                                                                         Administration not to trigger liability of director or relative under guarantee of company's liability
         Division 7—Rights of chargee, owner or lessor
           441A.                                                                         Where chargee acts before or during decision period
           441B.                                                                         Where enforcement of charge begins before administration
           441C.                                                                         Charge on perishable property
           441D.                                                                         Court may limit powers of chargee, etc. in relation to charged property
           441E.                                                                         Giving a notice under a charge
           441F.                                                                         Where recovery of property begins before administration
           441G.                                                                         Recovering perishable property
           441H.                                                                         Court may limit powers of receiver etc. in relation to property used by company
           441J.                                                                         Giving a notice under an agreement about property
           441K.                                                                         Effect of Division
         Division 8—Powers of administrator
           442A.                                                                         Additional powers of administrator
           442B.                                                                         Dealing with property subject to a floating charge that has crystallised
           442C.                                                                         When administrator may dispose of encumbered property
           442D.                                                                         Administrator's powers subject to powers of chargee, receiver etc.
           442E.                                                                         Administrator has qualified privilege
           442F.                                                                         Protection of persons dealing with administrator
         Division 9—Administrator's liability and indemnity for debts of administration
         Subdivision A—Liability
           443A.                                                                         General debts
           443B.                                                                         Payments for property used or occupied by, or in the possession of, the company
           443C.                                                                         Administrator not otherwise liable for company's debts
         Subdivision B—Indemnity
           443D.