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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 442C
When administrator may dispose of encumbered property
(1) The administrator of a company under administration or of a deed of
company arrangement must not dispose of:
- property of the company that is
subject to a charge; or
- property that is used or occupied by, or is in the possession of, the
company but of which someone else is the owner or lessor.
(2) Subsection (1) does not prevent a disposal:
- in the ordinary
course of the company's business; or
- with the written consent of the chargee, owner or lessor, as the case may
- with the leave of the Court.
(3) The Court may only give leave under paragraph (2)(c) if satisfied
that arrangements have been made to protect adequately the interests of the
chargee, owner or lessor, as the case may be.
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