Section 453K — Corporations Act 2001 (Cth)

(1) Subject to this Part, while a company is under restructuring the company has control of the company’s business, property and affairs.

(2) While a company is under restructuring, a receiver or controller appointed for the purposes of Part 5.2 (whether under an instrument relating to a security interest or a court order) may only perform the functions and exercise the powers of a receiver or controller in relation to a security interest if:

(a) section 454C, 454D or 454E applies to the enforcement of the security interest; or

(b) section 454K or 454L applies to the enforcement of a right, or the performance or exercise of a function or power, over property to which the security interest relates.

Related sections

• s 453G — Restructuring practitioner’s right to inspect books held by other persons
• s 453H — Restructuring practitioner acts as company’s agent
• s 453J — Restructuring practitioner may terminate restructuring
• s 453L — Conducting the business of the company during restructuring
• s 453M — Order for compensation where director involved in void transaction
• s 453N — Effect of things done during restructuring of company

Research how courts apply s 453K

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