Section 440JA — Corporations Act 2001 (Cth)

If:

(a) a company is under administration; and

(b) property of the company consists of:

(i) cash in the form of notes or coins; or

(ii) a negotiable instrument; or

(iii) a security (as defined by subsection 92(1)); or

(iv) a derivative; and

(c) the property is subject to a possessory security interest; and

(d) the secured party is:

(i) an ADI (within the meaning of the Banking Act 1959); or

(ii) the operator of a clearing and settlement facility;

this Division does not apply to the property.

Related sections

• s 440G — Duties of court officer in relation to property of company
• s 440H — Lis pendens taken to exist
• s 440J — Administration not to trigger liability of director or relative under guarantee of company’s liability
• s 441 — Application of Division
• s 441AA — Application of Subdivision—PPSA security interests
• s 441A — Secured party acts before or during decision period

Research how courts apply s 440JA

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