Part 15A
Voluntary administration
Rights of secured creditor, owner, or lessor
239ABQIf recovery of property begins before administration
This section applies if, before the beginning of the administration of a company, a receiver or other person, for the purpose of enforcing a right of the owner or lessor of the property to take possession of the property or otherwise recover it,—
- entered into possession of, or assumed control of, property used or occupied by, or in the possession of, the company; or
- exercised any other power in relation to the property.
Section 239ABD does not prevent the receiver or other person from performing a function, or exercising a power, in relation to the property.
Section 239Z does not apply in relation to a transaction or dealing that affects the property and is entered into in the performance or exercise of a function or power of the receiver or other person.
Compare
- Corporations Act 2001 s 441F (Aust)
Notes
- Section 239ABQ: inserted, on , by section 6 of the Companies Amendment Act 2006 (2006 No 56).