Section 454E — Corporations Act 2001 (Cth)

Scope

(1) This section applies if perishable property of a company under restructuring is subject to a security interest.

Power of enforcement by secured party, receiver or controller

(2) Nothing in section 453K, 453R or 454N, or in an order made under subsection 454P(1), prevents any of the following from enforcing the security interest, so far as it is a security interest in perishable property:

(a) the secured party;

(b) a receiver or controller appointed for the purposes of Part 5.2 (whether under an instrument relating to the security interest or a court order, and even if appointed after the decision period).

Related sections

• s 454B — Application of sections 454C to 454H—PPSA security interests
• s 454C — Secured party acts before or during decision period
• s 454D — Where enforcement of security interest begins before restructuring
• s 454F — Court may limit powers of secured party etc. in relation to secured property
• s 454G — Giving a notice under a security agreement etc.
• s 454H — Sale of property subject to a possessory security interest

Research how courts apply s 454E

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