Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 444GA

Transfer of shares

             (1)  The administrator of a deed of company arrangement may transfer shares in the company if the administrator has obtained:

                     (a)  the written consent of the owner of the shares; or

                     (b)  the leave of the Court.

             (2)  A person is not entitled to oppose an application for leave under subsection (1) unless the person is:

                     (a)  a member of the company; or

                     (b)  a creditor of the company; or

                     (c)  any other interested person; or

                     (d)  ASIC.

             (3)  The Court may only give leave under subsection (1) if it is satisfied that the transfer would not unfairly prejudice the interests of members of the company.



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