Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p33
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 33/110)
Character Range: 237050–239822

proposes to do during the administration will adequately protect the chargee's interests.

"(4) An order may only be made, and only has effect, during the administration.

  "(5) An order has effect despite sections 441B and 441C.

Giving a notice under a charge

"441E. Nothing in section 437C or 440B prevents a person from giving a notice under the provisions of a charge.

Where recovery of property begins before administration

"441F.(1) This section applies if, before the beginning of the administration of a company, a receiver or other person:

     (a)     entered into possession, or assumed control, of property used or occupied by, or in the possession of, the company; or

   (b)     exercised any other power in relation to such property;

for the purpose of enforcing a right of the owner or lessor of the property to take possession of the property or otherwise recover it.

"(2) Nothing in section 437C or 440C prevents the receiver or other person from performing a function, or exercising a power, in relation to the property.

"(3) Section 437D does not apply in relation to a transaction or dealing that affects the property and is entered into in the performance or exercise of a function or power of the receiver or other person.

Recovering perishable property

"441G.(1) Nothing in section 437C or 440C prevents a person from taking possession of, or otherwise recovering, perishable property.

"(2) Section 437D does not apply in relation to a transaction or dealing that affects perishable property and is entered into for the purpose of enforcing a right of the owner or lessor of the property to take possession of the property or otherwise recover it.

Court may limit powers of receiver etc. in relation to property used by company

  "441H.(1) This section applies if:

     (a) for the purpose of enforcing a right of the owner or lessor of property used or occupied by, or in the possession of, a company to take possession of the property or otherwise recover it, a person:

       (i) enters into possession, or assumes control, of the property;
         or

       (ii) exercises any other power in relation to the property;
         and

     (b) the company is under administration when the person does so, or the company later begins to be under administration.

"(2) On application by the administrator, the Court may order the person not to perform specified functions, or exercise specified powers, in relation to the property, except as permitted by the order.

"(3) The Court may only make an order if satisfied that what the administrator proposes to do during the administration will adequately protect the interests of the owner or lessor.

"(4) An order may only be made, and only has effect, during the administration.