Section 239ABO — Companies Act 1993: Court may limit powers of secured creditor, etc, in relation to property subject to charge

239ABO Court may limit powers of secured creditor, etc, in relation to property subject to charge (1) This section— (a) applies if,— (i) for the purpose of enforcing a charge over property of a company, the secured creditor, a receiver, or other person does an act of a kind referred to in section 239ABM(1) ; and (ii) the company is in administration when the secured creditor, receiver, or other person does that act, or an administrator is later appointed to the company: (b) does not apply in a case where section 239ABL applies. (2) On an application by the administrator, the Court may order the secured creditor, receiver, or other person not to perform specified functions or exercise specified powers, except as permitted by the order. (3) The Court may make an order only if satisfied that what the administrator proposes to do during the administration will adequately protect the secured creditor's interests. (4) An order— (a) may be made only, and has effect only, during the administration; and (b) has effect despite section 239ABM and 239ABN . Compare: Corporations Act 2001 (Australia) s 441D Section 239ABO: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).