Section 239ABM — Companies Act 1993: If enforcement of charges begins before administration

239ABM If enforcement of charges begins before administration (1) This section applies if, before the beginning of the administration of a company, a secured creditor, receiver, or other person, for the purpose of enforcing a charge over the property,— (a) entered into possession, or assumed control, of the property of the company; or (b) entered into an agreement to sell the property; or (c) made arrangements for the property to be offered for sale by public auction; or (d) publicly invited tenders for the purchase of the property; or (e) exercised any other power in relation to the property. (2) Nothing in section 239ABC prevents the secured creditor, receiver, or other person from enforcing the charge in relation to the property. (3) Section 239Z does not apply in relation to a transaction or dealing that affects the property and is entered into, as the case may be,— (a) in the exercise of a power of the secured creditor as secured creditor; or (b) in the performance or exercise of a function or power of the receiver or other person. Compare: Corporations Act 2001 (Australia) s 441B Section 239ABM: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).