Section 239ACO — Companies Act 1993: Execution of deed

239ACO Execution of deed (1) The deed is a deed of company arrangement when it is executed by both the company in administration and the deed administrator. (2) The deadline for the execution of the deed by the company and the deed administrator is— (a) 15 working days after the watershed meeting has approved it; or (b) the further time that the Court allows, if the deed administrator has applied to the Court for an extension before the end of the initial period of 15 working days after approval. (3) The company may not execute the deed unless the board of the company has, by resolution, authorised the deed to be executed by the company or on its behalf. (4) Subsection (3) has effect despite section 239X , but does not limit the functions and powers of the administrator of the company. Compare: Corporations Act 2001 (Australia) s 444B Section 239ACO: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).