CORPORATIONS ACT 2001 - SECT 452A Object of this Part

CORPORATIONS ACT 2001 - SECT 452A

    The object of this Part, and Schedule   2 to the extent that it relates to this Part, is to provide for a restructuring process for eligible companies that allows the companies:

  (a)   to retain control of the business, property and affairs while developing a plan to restructure with the assistance of a small business restructuring practitioner; and

  (b)   to enter into a restructuring plan with creditors.

Note:   Schedule   2 contains additional rules about the restructuring process.