Notification of contravention of deed of company arrangement
445HA Notification of contravention of deed of company arrangement
Director to notify administrator
If a director of a company that is subject to a deed of company arrangement becomes aware that:
there has been a material contravention of the deed by a person bound by the deed (who may be the director); or
there is likely to be a material contravention of the deed by a person bound by the deed (who may be the director);
the director must, as soon as practicable after becoming aware of the contravention or likely contravention, give notice of the contravention or likely contravention to the administrator of the deed of company arrangement.
Administrator to notify company’s creditors
If the administrator of a deed of company arrangement becomes aware that:
there has been a material contravention of the deed by a person bound by the deed (who may be the administrator); or
there is likely to be a material contravention of the deed by a person bound by the deed (who may be the administrator);
the administrator must, as soon as practicable after becoming aware of the contravention or likely contravention, give notice of the contravention or likely contravention to as many of the company’s creditors as reasonably practicable. The notice must be lodged with ASIC and must be in the prescribed form (if any).
This provision refers to the regulations (prescribed form
). Made under this Act:
- Corporations Regulations 2001 · under s 1364
83 more instruments made under this Act are listed on the Act’s overview.
This Act’s bill:Explanatory memorandumSecond reading speech
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