Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 456LB

Protection of persons dealing with restructuring practitioner

             (1)  Sections 128 and 129 apply in relation to a company that is under restructuring as if:

                     (a)  a reference in those sections to the company, or to an officer of the company, included a reference to the restructuring practitioner for the company; and

                     (b)  a reference in those sections to an assumption referred to in section 129 included a reference to an assumption that the restructuring practitioner is:

                              (i)  acting within the restructuring practitioner's functions and powers as restructuring practitioner; and

                             (ii)  in particular, is complying with this Act.

             (2)  Sections 128 and 129 apply in relation to a company that has made a restructuring plan as if:

                     (a)  a reference in those sections to the company, or to an officer of the company, included a reference to the restructuring practitioner for the plan; and

                     (b)  a reference in those sections to an assumption referred to in section 129 included a reference to an assumption that the restructuring practitioner is:

                              (i)  acting within the restructuring practitioner's functions and powers as restructuring practitioner; and

                             (ii)  in particular, is complying with this Act.

             (3)  The effect that sections 128 and 129 have because of subsections (1) and (2) of this section is additional to, and does not prejudice, the effect that sections 128 and 129 otherwise have in relation to a company that is under restructuring or that has made a restructuring plan.



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