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CORPORATIONS ACT 2001 - SECT 454E

Security interest in perishable property

Scope

             (1)  This section applies if perishable property of a company under restructuring is subject to a security interest.

Power of enforcement by secured party, receiver or controller

             (2)  Nothing in section 453K, 453R or 454N, or in an order made under subsection 454P(1), prevents any of the following from enforcing the security interest, so far as it is a security interest in perishable property:

                     (a)  the secured party;

                     (b)  a receiver or controller appointed for the purposes of Part 5.2 (whether under an instrument relating to the security interest or a court order, and even if appointed after the decision period).



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