Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 5.3B.45

Lien to secure indemnity

  (1)   To secure a right of indemnity under regulation   5.3B.43, the restructuring practitioner has a lien on the company's property.

  (2)   A lien under subregulation   (1) has priority over another security interest only in so far as the right of indemnity under regulation   5.3B.43 has priority over debts secured by the other security interest.



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