Statute
Section 453X — Corporations Act 2001: Property subject to a banker’s lien—exemption from this Subdivision
Text of the provision Official document
If: (a) a company is under restructuring; and (b) property of the company consists of: (i) cash in the form of notes or coins; or (ii) a negotiable instrument; or (iii) a security (as defined by subsection 92(1)); or (iv) a derivative; and (c) the property is subject to a possessory security interest; and (d) the secured party is: (i) an ADI (within the meaning of the Banking Act 1959); or (ii) the operator of a clearing and settlement facility; this Subdivision does not apply to the property.
Official source: Federal Register of Legislation
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