Section 239ABH — Companies Act 1993: Duties of court officer in relation to company's property

239ABH Duties of court officer in relation to company's property (1) This section applies to a court officer, that is, a sheriff or registrar or other appropriate officer of the court, who receives written notice that a company is in administration. (2) During the administration, the court officer must not— (a) take action to sell property of the company under an execution process; or (b) pay to a person (other than the administrator)— (i) proceeds of the sale of the company's property (at any time) under an execution process; or (ii) money of the company seized (at any time) under an execution process; or (iii) money paid (at any time) to avoid seizure or sale of property of the company under an execution process; or (c) take action in relation to the attachment of a debt due to the company; or (d) pay to any person (other than the administrator) money received because of the attachment of a debt due to the company. (3) The court officer must deliver to the administrator any property of the company that is in the court officer's possession under an execution process (whenever begun). (4) The court officer must pay to the administrator all proceeds or money of a kind referred to in subsection (2)(b) or (d) that— (a) are in the court officer's possession; or (b) have been paid into the court and have not since been paid out. (5) The costs of the execution or attachment are a first charge over property delivered under subsection (3) or proceeds or money paid under subsection (4). (6) In order to give effect to a charge under subsection (5) on proceeds or money the court officer may retain, on behalf of the person entitled to the charge, so much of the proceeds as the court officer thinks necessary. (7) The court may, if it is satisfied that it is appropriate to do so, permit the court officer to take action, or make a payment, that subsection (2) would otherwise prevent. (8) A person who buys property in good faith under a sale under an execution process obtains a good title to the property as against the company and the administrator, despite anything else in this section. Compare: Corporations Act 2001 (Australia) s 440G Section 239ABH: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).