Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

CORPORATIONS ACT 2001 - SECT 435A

Object of Part

                   The object of this Part, and Schedule 2 to the extent that it relates to this Part, is to provide for the business, property and affairs of an insolvent company to be administered in a way that:

                     (a)  maximises the chances of the company, or as much as possible of its business, continuing in existence; or

                     (b)  if it is not possible for the company or its business to continue in existence--results in a better return for the company's creditors and members than would result from an immediate winding up of the company.

Note:          Schedule 2 contains additional rules about companies under external administration.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback