Document ID: chunk:federal_register_of_legislation:C2011A00035:clause:2_22
Version: federal_register_of_legislation:C2011A00035
Segment Type: clause
Provision Reference: sch 2 cl 22
Character Range: 9568–10158

22  At the end of section 115
Add:

Contracting out in relation to controllers (other than receivers etc.)
 (7) Subject to subsections (2), (3), (5) and (6), the parties to a security agreement may contract out of the application under subsection 116(2) of any provision of Part 4.3 (seizure and disposal or retention of collateral) in relation to property.
Note: Subsection 116(2) provides for the application of this Chapter while a person is a controller of the property other than a receiver, or a receiver and manager, of the property within the meaning of the Corporations Act 2001.