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AI Summary of 545. What this Chapter contains

Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 June 2015 - onwards
Version 2 of 2

545. What this Chapter contains

This Chapter contains provisions -

(a) specifying the effect on the liability of a person (under a guarantee or otherwise) to another person in respect of a debt of a company in examination under this Part where a compromise or scheme of arrangement takes effect in relation to the latter;

(b) restricting the enforcement of that liability by that other person unless a certain procedure is employed; and

(c) providing for other matters relating to the foregoing (including a saver for cases falling within section 520(4)(f) or where, by operation of any rule of law, a discharge or release of the first-mentioned person's liability occurs).