1A right to refund of a proponent contribution under a DOCA clause that is contingent upon termination of the DOCA does not constitute an accrued right preserved by s 445H of the Corporations Act 2001 (Cth), because the right arises only at or after termination and is not part of the 'previous operation' of the deed.
2A deed of company arrangement derives its binding force from the Corporations Act (ss 444D, 444G) and does not have contractual force even as between its signatories; it should be construed as a statutory instrument rather than a contract (approving Correa v Whittingham (No 2) [2013] NSWCA 471; disapproving Dean-Willcocks v ACG Engineering Pty Ltd (in liq) [2003] NSWSC 353).
3A clause in a DOCA establishing a single deed fund comprising both company property and a third-party proponent contribution, with the administrators acting as agents of the company and no requirement to segregate the contribution, does not create a trust (whether express or Quistclose) over the proponent contribution in favour of the contributing party.
