Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 453E

Functions, duties and powers of the restructuring practitioner

             (1)  The functions of the restructuring practitioner for a company under restructuring are:

                     (a)  to provide advice to the company on matters relating to restructuring; and

                     (b)  to assist the company to prepare a restructuring plan; and

                     (c)  to make a declaration to creditors in accordance with the regulations in relation to a restructuring plan proposed to the creditors; and

                     (d)  any other functions given to the restructuring practitioner under this Act.

             (2)  The regulations may make provision for and in relation to the following:

                     (a)  the functions of the restructuring practitioner for a company under restructuring;

                     (b)  the duties of the restructuring practitioner for a company under restructuring;

                     (c)  the powers of the restructuring practitioner for a company under restructuring;

                     (d)  the rights and liabilities of a person who is or has been the restructuring practitioner for a company arising out of the performance of the functions and duties, and the exercise of the powers, of the person as restructuring practitioner.



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