CORPORATIONS ACT 2001 - SECT 442CA Property subject to a possessory security interest--inspection or examination by potential purchasers etc.

CORPORATIONS ACT 2001 - SECT 442CA

  (1)   If:

  (a)   a company is under administration; and

  (b)   property of the company is subject to a possessory security interest; and

  (c)   the administrator is entitled to dispose of the property by way of sale;

the secured party must, if requested to do so by the administrator, give potential purchasers a reasonable opportunity to inspect or examine the property.

  (2)   If:

  (a)   a company is under administration; and

  (b)   property of the company is subject to a possessory security interest; and

  (c)   the administrator disposes of the property by way of sale;

the administrator is entitled to obtain possession of the property in order to effect the sale.