Section 453E — Corporations Act 2001 (Cth)

(1) The functions of the restructuring practitioner for a company under restructuring are:

(a) to provide advice to the company on matters relating to restructuring; and

(b) to assist the company to prepare a restructuring plan; and

(c) to make a declaration to creditors in accordance with the regulations in relation to a restructuring plan proposed to the creditors; and

(d) any other functions given to the restructuring practitioner under this Act.

(2) The regulations may make provision for and in relation to the following:

(a) the functions of the restructuring practitioner for a company under restructuring;

(b) the duties of the restructuring practitioner for a company under restructuring;

(c) the powers of the restructuring practitioner for a company under restructuring;

(d) the rights and liabilities of a person who is or has been the restructuring practitioner for a company arising out of the performance of the functions and duties, and the exercise of the powers, of the person as restructuring practitioner.

Related sections

• s 453B — Appointing a restructuring practitioner
• s 453C — Eligibility criteria for restructuring
• s 453D — Declaration by restructuring practitioner—relevant relationships
• s 453F — Directors to help restructuring practitioner
• s 453G — Restructuring practitioner’s right to inspect books held by other persons
• s 453H — Restructuring practitioner acts as company’s agent

Research how courts apply s 453E

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.