Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 5.3B.26

How a restructuring plan is made

             (1)  If a company's proposal to make a restructuring plan is accepted in accordance with regulation 5.3B.25, the company is taken to have made the restructuring plan.

             (2)  The restructuring plan is taken to have been made :

                     (a)  if the plan is expressed to be conditional on the occurrence of a specified event within a specified period and the event occurs within that period--on the day after the end of that period; and

                     (b)  otherwise--on the day after the end of the acceptance period.

             (3)  A restructuring plan that has been made has the same force and validity as if it were a deed executed by each of the parties to the plan.

Definitions

             (4)  In this regulation:

"acceptance period " has the same meaning as in subregulation 5.3B.21(3).



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