5.3B.04
CurrentTransactions or dealings in the ordinary course of business
Chapter 5External administration
Part 5.3BRestructuring of a company
Division 2Restructuring
Subdivision ARestructuring generally
5.3B.04 Transactions or dealings in the ordinary course of business
(1)
For the purposes of subsection 453L(4) of the Act, this regulation prescribes the circumstances in which entering into a transaction or dealing by a company is to not be treated as in the ordinary course of the company’s business.
(2)
The circumstances are as follows:
(a)
the transaction or dealing is for the purposes of satisfying an admissible debt or claim;
(b)
the transaction or dealing relates to the transfer or sale of the whole or a part of the business;
(c)
the transaction or dealing relates to the payment of a dividend.
This Act’s bill:Explanatory statement
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