Section 453Q — Corporations Act 2001 (Cth)

(1) The Court is to adjourn the hearing of an application for an order to wind up a company if the company is under restructuring and the Court is satisfied that it is in the interests of the company’s creditors for the company to continue under restructuring rather than be wound up.

(2) The Court is not to appoint a provisional liquidator of a company if the company is under restructuring and the Court is satisfied that it is in the interests of the company’s creditors for the company to continue under restructuring rather than have a provisional liquidator appointed.

Related sections

• s 453M — Order for compensation where director involved in void transaction
• s 453N — Effect of things done during restructuring of company
• s 453P — Effect of restructuring on company’s members
• s 453R — Restrictions on exercise of third party property rights
• s 453S — Stay of proceedings
• s 453T — Suspension of enforcement process

Research how courts apply s 453Q

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