Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 445FA

Notice of termination of deed

             (1)  If a company is subject to a deed of company arrangement, and:

                     (a)  the administrator of the deed has applied all of the proceeds of the realisation of the assets available for the payment of creditors; or

                     (b)  the administrator of the deed has paid to the creditors:

                              (i)  the sum of 100 cents in the dollar; or

                             (ii)  any lesser sum determined by the creditors at a general meeting; or

                     (c)  all of the following conditions are satisfied:

                              (i)  the company's obligations under the deed have been fulfilled;

                             (ii)  the obligations of any other party to the deed have been fulfilled;

                            (iii)  creditors' claims under the deed have been dealt with in accordance with the deed;

the administrator of the deed must:

                     (d)  certify to that effect in writing; and

                     (e)  within 28 days, lodge with ASIC a notice of termination of the deed.

             (2)  The notice of termination must be in the prescribed form.

Note:          For termination of the deed, see section 445C.



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