Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 445FA

  (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.