Section 453K — Corporations Act 2001: Control of company under restructuring

(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.