Section 239ACN — Companies Act 1993: Preparation and contents of deed

239ACN Preparation and contents of deed (1) The deed administrator must prepare a document that sets out the terms of the deed. (2) The document must also specify the following: (a) who the deed administrator is: (b) the property of the company (whether or not it is already owned by the company when it executes the deed) that will be available to pay creditors: (c) the nature and duration of any moratorium period for which the deed provides: (d) to what extent the company will be released from its debts: (e) the conditions (if any) for the deed to come into operation: (f) the conditions (if any) for the deed to continue in operation: (g) the circumstances in which the deed terminates: (h) the order in which the proceeds of realisation of the property referred to in paragraph (b) will be distributed among creditors who are bound by the deed: (i) the day (which is called the cut-off day and which must not be later than the day when the administration began) on or before which creditors' claims must have arisen if they are to be admissible under the deed. (3) The document is treated as including any prescribed provisions, except those prescribed provisions that the document expressly excludes. Compare: Corporations Act 2001 (Australia) s 444A(3)–(5) Section 239ACN: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).