Commonwealth Consolidated Regulations

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When restructuring ends

             (1)  For the purposes of paragraph 453A(b) of the Act, the restructuring of a company ends if:

                     (a)  the company makes a declaration under subregulation (2); or

                     (b)  the company fails to propose a restructuring plan within the proposal period; or

                     (c)  the company's proposal to make a restructuring plan lapses under regulation 5.3B.20; or

                     (d)  the restructuring practitioner for the company terminates the restructuring under section 453J of the Act; or

                     (e)  the Court orders that the restructuring of the company is to end; or

                      (f)  an administrator of the company is appointed under section 436A, 436B or 436C of the Act; or

                     (g)  a liquidator or provisional liquidator of the company is appointed; or

                      (j)  the company makes a restructuring plan.

             (2)  The directors of a company under restructuring:

                     (a)  may make a declaration in writing that the restructuring of the company is to end on a specified day for any reason; and

                     (b)  must give a copy of the declaration to:

                              (i)  the company's restructuring practitioner; and

                             (ii)  the company's creditors;

                            before the day specified in the declaration.

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