453N
In forceEffect of things done during restructuring of company
Volume 2Chapter 2L, Part 2L.1 to Chapter 5, Part 5.9 sections 283AA to 600K
Chapter 5External administration
Part 5.3BRestructuring of a company
Division 2Restructuring
Subdivision DConduct of company during restructuring
453N Effect of things done during restructuring of company
A payment made, transaction entered into, or any other act or thing done, in good faith by:
(a)
the restructuring practitioner for a company under restructuring; or
(b)
a company under restructuring with the consent of the restructuring practitioner for the company; or
(c)
a company under restructuring in compliance with an order of the Court;
is valid and effectual for the purposes of this Act, and is not liable to be set aside in a winding up of the company.
This Act’s bill:Explanatory memorandumSecond reading speech
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