CORPORATIONS ACT 2001 No. 50, 2001 - SECT 441D Court may limit powers of chargee etc. in relation to charged

Commonwealth Numbered Acts

Court may limit powers of chargee etc. in relation to charged property

(1) This section applies if:

(a): for the purpose of enforcing a charge on property of a company, the chargee, or a receiver or other person, does an act of a kind referred to in a paragraph of subsection 441B(1); and
(b): the company is under administration when the chargee, receiver or other person does the act, or the company later begins to be under administration;

but does not apply in a case where section 441A applies.

(2) On application by the administrator, the Court may order the chargee, receiver or other person not to perform specified functions, or exercise specified powers, except as permitted by the order. (3) The Court may only make an order if satisfied that what the administrator proposes to do during the administration will adequately protect the chargee's interests. (4) An order may only be made, and only has effect, during the administration. (5) An order has effect despite sections 441B and 441C.

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