Companies Act 1993
Sections and provisions with full text and the judgments that cite each one.
Section 233 — Effect of compromise in liquidation of company
233 Effect of compromise in liquidation of company (1) Where a compromise is approved under section 230 of this Act, the Court may, on the application of— (a) The company; or (b) A receiver appointed…
Section 234 — Costs of compromise
234 Costs of compromise Unless the Court orders otherwise, the costs incurred in organising and conducting a meeting of creditors for the purpose of voting on a proposed compromise— (a) Must be met…
Section 235 — Interpretation
235 Interpretation In this Part of this Act, unless the context otherwise requires,— Arrangement includes a reorganisation of the share capital of a company by the consolidation of shares of…
Section 236 — Approval of arrangements, amalgamations, and compromises
236 Approval of arrangements, amalgamations, and compromises (1) Notwithstanding the provisions of this Act or the constitution of a company, the Court may, on the application of a company or any…
Section 237 — Court may make additional orders
237 Court may make additional orders (1) Without limiting section 236 of this Act, the Court may, for the purpose of giving effect to any arrangement or amalgamation or compromise approved under that…
Section 238 — Parts 13 and 14 not affected
238 Parts 13 and 14 not affected The Court may— (a) Approve an amalgamation under section 236 of this Act even though the amalgamation could be effected under Part 13 of this Act: (b) Approve a…
Section 239 — Application of section 233
239 Application of section 233 The provisions of section 233 of this Act shall apply with such modifications as may be necessary in relation to any compromise approved under section 236 of this Act.
Section 239A — Objects of this Part
239A Objects of this Part The objects of this Part are to provide for the business, property, and affairs of an insolvent company, or a company that may in the future become insolvent, to be…
Section 239AA — Company officer's liability for compensation for void transaction or dealing
239AA Company officer's liability for compensation for void transaction or dealing The Court may order a director or officer of a company who is convicted of an offence under section 239Z(4) to…
Section 239ABA — What creditors may decide at watershed meeting
239ABA What creditors may decide at watershed meeting At the watershed meeting, the creditors may— (a) resolve that the company execute a deed of company arrangement specified in the resolution (and…
Section 239ACA — Act of administrator in good faith must not be set aside in liquidation
239ACA Act of administrator in good faith must not be set aside in liquidation A payment made, transaction entered into, or any other act or thing done, in good faith, by or with the consent of the…
Section 239ADA — Creditors may vary deed
239ADA Creditors may vary deed The creditors may vary a deed of company arrangement by a resolution passed at a meeting convened under section 239ADF , but the variation must not be materially…
Section 239AEA — Deed administrator must give notice of termination by creditors of deed of company arrangement
239AEA Deed administrator must give notice of termination by creditors of deed of company arrangement If the creditors terminate the deed of company arrangement, the deed administrator must as soon…
Section 239AB — Effect on transfer of shares
239AB Effect on transfer of shares (1) A share in a company in administration must not be transferred and the rights or liabilities of a shareholder of the company must not be altered. (2) However,…
Section 239ABB — What happens if proposed deed not fully approved at watershed meeting
239ABB What happens if proposed deed not fully approved at watershed meeting (1) If, at the watershed meeting, the creditors resolve that the company execute a deed of company arrangement, but the…
Section 239ACB — Voidable transactions
239ACB Voidable transactions (1) The voidable transaction provisions do not apply to a transaction by a company in administration if the transaction is— (a) carried out by or with the authority of…
Section 239ADB — Court may cancel creditors' variation
239ADB Court may cancel creditors' variation (1) A creditor of a company in administration may apply to the Court for an order cancelling the variation of the deed of company arrangement by the…
Section 239AEB — Company must disclose fact of administration
239AEB Company must disclose fact of administration (1) A company must set out, in every document issued or signed by, or on behalf of, the company that evidences or creates a legal obligation of the…
Section 239B — Interpretation of some key terms
239B Interpretation of some key terms The following are some key terms used in this Part and their meanings: administrator means the person who is appointed the administrator of the company in…
Section 239ABC — Charge unenforceable
239ABC Charge unenforceable Subject to subpart 10 , a person must not, during the administration of a company, enforce a charge over the property of the company, except— (a) with the administrator's…
Section 239AC — Effect on liquidation
239AC Effect on liquidation (1) The appointment of an administrator to a company in liquidation suspends the liquidation, including the powers of the liquidator to act on the company's behalf, but…
Section 239ACC — Who is deed administrator
239ACC Who is deed administrator The administrator of the company is the deed administrator, unless the creditors at the watershed meeting by resolution appoint someone else to be the deed…
Section 239ADC — Termination of deed
239ADC Termination of deed A deed of company arrangement may be terminated— (a) by the Court under section 239ADD ; or (b) by a resolution of the creditors under section 239ADE ; or (c)…
Section 239AEC — Notice of change of name
239AEC Notice of change of name (1) A company in administration that changed its name less than 6 months before the appointment of the administrator must, in any document of the company where its…
Section 239C — Interpretation of other terms
239C Interpretation of other terms In this Part, unless the context otherwise requires,— company includes an overseas company convening period has the meaning given to it in section 239AT(2) creditor…
Section 239ABD — Owner or lessor must not recover property used by company
239ABD Owner or lessor must not recover property used by company During the administration of a company, the owner or lessor of property that was used or occupied by, or is in the possession of, the…
Section 239ACD — Who may be appointed deed administrator
239ACD Who may be appointed deed administrator (1) A natural person who is not disqualified under subsection (2) may be appointed deed administrator. (2) Unless the Court orders otherwise, a person…
Section 239AD — Effect on receivership
239AD Effect on receivership The appointment of an administrator to a company in receivership does not remove the receiver from office. Section 239AD: inserted, on 1 November 2007, by section 6 of…
Section 239ADD — Termination by Court
239ADD Termination by Court (1) The Court may terminate a deed of company arrangement on the application of— (a) the company; or (b) a creditor; or (c) the deed administrator; or (d) any other…
Section 239AED — Effect of contravention of this subpart
239AED Effect of contravention of this subpart A contravention of this subpart does not affect the validity of anything done or omitted under this Part, except so far as the Court orders otherwise.…
Section 239D — When administration begins
239D When administration begins The administration of a company begins when an administrator is appointed under this Part. Compare: Corporations Act 2001 (Australia), s 435C(1) Section 239D:…
Section 239ABE — Proceeding must not be begun or continued
239ABE Proceeding must not be begun or continued During the administration of a company, a proceeding in a court against the company or in relation to any of its property must not be begun or…
Section 239ACE — Deed administrator must consent in writing
239ACE Deed administrator must consent in writing A person must not be appointed deed administrator unless that person has consented in writing and has not withdrawn the consent at the time when the…
Section 239ADE — Termination by creditors
239ADE Termination by creditors (1) The creditors, by a resolution passed at a meeting convened under section 239ADF , may terminate the deed if there has occurred a material breach of the deed that…
Section 239AE — Administrator must investigate company's affairs and consider possible courses of action
239AE Administrator must investigate company's affairs and consider possible courses of action As soon as practicable after the administration of a company begins, the administrator must— (a)…
Section 239AEE — Effect of things done during administration of company
239AEE Effect of things done during administration of company A payment made, transaction entered into, or any other act or thing done, in good faith, by or with the consent of the administrator of a…
Section 239E — When administration ends
239E When administration ends (1) The administration of a company ends when— (a) a deed of company arrangement is executed by both the company and the deed administrator; or (b) the company's…
Section 239ABF — Administrator not liable in damages for refusing consent
239ABF Administrator not liable in damages for refusing consent An administrator is not liable in damages for a refusal to give an approval or consent for the purposes of this subpart. Compare:…
Section 239ACF — Appointment of deed administrator must not be revoked
239ACF Appointment of deed administrator must not be revoked Except in the case of removal by the Court, the appointment of the deed administrator must not be revoked. Compare: Corporations Act 2001…
Section 239ADF — Creditors' meeting to consider proposed variation or termination of deed
239ADF Creditors' meeting to consider proposed variation or termination of deed (1) The deed administrator— (a) may at any time convene a meeting of the company's creditors to consider a variation…
Section 239AEF — Interruption of time for doing act
239AEF Interruption of time for doing act If there is a time before which, or a period during which, an act for any purpose may or must be done, and this Act prevents the act from being done in time,…
Section 239AF — Directors' statement of company's position
239AF Directors' statement of company's position (1) Within 5 working days after the administration of a company begins, the directors must give to the administrator a statement about the company's…
Section 239F — Who may be appointed administrator
239F Who may be appointed administrator (1) A natural person who is not disqualified under subsection (2) may be appointed an administrator of a company. (2) Unless the Court orders otherwise, a…
Section 239ABG — Enforcement process halted
239ABG Enforcement process halted During the administration of a company, an enforcement process in relation to the company's property must not be begun or continued except with the permission of the…
Section 239ACG — Appointment of 2 or more deed administrators
239ACG Appointment of 2 or more deed administrators (1) Two or more persons may be appointed deed administrators in any case where this Act provides for the appointment of a deed administrator. (2)…
Section 239ADG — Administrator not liable for company's debts except as provided in this subpart and in section 239Y
239ADG Administrator not liable for company's debts except as provided in this subpart and in section 239Y The administrator is not liable for the debts of the company except as provided in this…
Section 239AEG — Mutual credit and set-off
239AEG Mutual credit and set-off Where there have been mutual credits, mutual debts, or other mutual dealings between a company and a person who seeks or, but for the operation of this section, would…
Section 239AG — Administrator's right to documents, etc
239AG Administrator's right to documents, etc Sections 261 and 263 to 267 apply with all necessary modifications as if every reference to liquidator and liquidation was a reference to administrator…
Section 239G — Administrator must consent in writing
239G Administrator must consent in writing A person must not be appointed the administrator of a company unless that person has consented in writing and has not withdrawn the consent at the time of…
Section 239H — Who may appoint administrator
239H Who may appoint administrator (1) An administrator may be appointed to a company by— (a) the company ( see section 239I ); or (b) if the company is in liquidation, the liquidator ( see section…