Section 239ABK — Companies Act 1993: Meaning of terms used in this subpart

239ABK Meaning of terms used in this subpart In this subpart, unless the context otherwise requires,— decision period means, in relation to a secured creditor holding a charge over property of a company in administration, the period that— (a) begins— (i) if notice of the appointment of the administrator must be given to the secured creditor under section 239ADW(1)(c) , on the day when that notice is given; or (ii) in any other case, on the day when the administration begins; and (b) ends at the end of the tenth working day after the day when it begins enforce , in relation to a charge over property of a company in administration, includes— (a) to appoint a receiver of property of the company under a power contained in an instrument relating to the charge; or (b) to obtain an order for the appointment of a receiver of that property for the purpose of enforcing the charge; or (c) to enter into possession, or assume control, of that property for that purpose; or (d) to appoint a person to enter into possession or assume control (whether as agent for the secured creditor or for the company) for that purpose; or (e) to exercise, as secured creditor or as a receiver or person so appointed, a right, power, or remedy existing because of the charge, whether arising under an instrument relating to the charge, under a written or unwritten law, or otherwise. Section 239ABK: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).