Document ID: chunk:federal_register_of_legislation:C2025C00185:section:456j
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 456J
Character Range: 1691625–1692487

456J  Right of indemnity
  A person who is or has been the restructuring practitioner for a company under restructuring is entitled to be indemnified out of the company's property (other than any PPSA retention of title property subject to a PPSA security interest that is perfected within the meaning of the Personal Property Securities Act 2009) for:
 (a) any debts or liabilities incurred, or damages or losses sustained, in good faith and without negligence, by the restructuring practitioner:
 (i) in the performance or purported performance of the restructuring practitioner's functions or duties; or
 (ii) in the exercise or purported exercise of the restructuring practitioner's powers; and
 (b) the remuneration to which the restructuring practitioner is entitled under Insolvency Practice Rules made under Subdivision DA of Division 60 of Schedule 2.