Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 442CA

Property subject to a possessory security interest--inspection or examination by potential purchasers etc.

             (1)  If:

                     (a)  a company is under administration; and

                     (b)  property of the company is subject to a possessory security interest; and

                     (c)  the administrator is entitled to dispose of the property by way of sale;

the secured party must, if requested to do so by the administrator, give potential purchasers a reasonable opportunity to inspect or examine the property.

             (2)  If:

                     (a)  a company is under administration; and

                     (b)  property of the company is subject to a possessory security interest; and

                     (c)  the administrator disposes of the property by way of sale;

the administrator is entitled to obtain possession of the property in order to effect the sale.



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