Section 418A — Corporations Act 2001: Court may declare whether controller is validly acting

(1) Where there is doubt, on a specific ground, about: (a) whether a purported appointment of a person, after 23 June 1993, as receiver of property of a corporation is valid; or (b) whether a person who has entered into possession, or assumed control, of property of a corporation after 23 June 1993 did so validly under the terms of a security interest in that property; the person, the corporation or any of the corporation’s creditors may apply to the Court for an order under subsection (2). (2) On an application, the Court may make an order declaring whether or not: (a) the purported appointment was valid; or (b) the person entered into possession, or assumed control, validly under the terms of the security interest; as the case may be, on the ground specified in the application or on some other ground.