Schedule 13 COVID-19 business debt hibernation


s 395A

Schedule 13: repealed, on the close of 31 May 2022, by section 395A(3).


1Purposes [Repealed]
2Overview of schedule [Repealed]
3Application of schedule [Repealed]
4Interpretation [Repealed]
5Board of entity may agree to entity entering into BDH [Repealed]
6Entity may enter BDH by delivering notice to Registrar [Repealed]
7Copy of notice must be sent to creditors [Repealed]
8Restriction on entering into BDH more than once [Repealed]
9Entity must develop proposal for arrangement and send notice to creditors [Repealed]
10Contents of notice [Repealed]
11Creditors’ meeting is voluntary [Repealed]
12Effect of irregularity or failure [Repealed]
13Protection period [Repealed]
14When protections start to apply (and entity enters into BDH) [Repealed]
15Protections generally apply for 1 month and additional 6 months if creditors approve arrangement [Repealed]
16Protections cease to apply if conditions not complied with [Repealed]
17Protections cease to apply if entity fails to send new certificates on request [Repealed]
18Protections cease if entity subsequently becomes subject to compromise or enters voluntary administration, receivership, or liquidation [Repealed]
19Entity may decide to come out of BDH early [Repealed]
20Protections subject to approval [Repealed]
21Protections do not apply to general security holders [Repealed]
22Protections do not apply to excluded debts [Repealed]
23When arrangement is approved [Repealed]
24Approval needs majority in number and value of creditors [Repealed]
25Duty to receive and count votes [Repealed]
26Amounts must not be determined by reference to class of creditor [Repealed]
27Board of entity must prepare certificate of result of vote [Repealed]
28Board must ensure creditors and Registrar are notified of result of vote [Repealed]
29Arrangement is binding [Repealed]
30Restriction on effect of arrangement [Repealed]
31Variation of arrangement [Repealed]
32Related creditor’s vote to be disregarded unless court orders otherwise [Repealed]
33Creditor’s vote disregarded if entity considers creditor is related creditor [Repealed]
34Further powers where court orders creditor’s vote be taken into account [Repealed]
35Power of court where outcome of voting determined by related creditor [Repealed]
36Powers of court [Repealed]
37Court may order that creditor is not bound [Repealed]
38Charge unenforceable [Repealed]
39Owner or lessor must not recover property used by entity [Repealed]
40Proceeding must not be begun or continued [Repealed]
41Entity not liable in damages for refusing consent [Repealed]
42Enforcement process halted [Repealed]
43Duties of court officer in relation to entity’s property [Repealed]
44Certain guarantees may not be enforced during protection period [Repealed]
45If enforcement of charges begins before entity enters into BDH [Repealed]
46Charge over perishable property [Repealed]
47Court may limit powers of secured creditor, etc, in relation to property subject to charge [Repealed]
48Giving notice under security agreement [Repealed]
49If recovery of property begins before protection period [Repealed]
50Recovering perishable property [Repealed]
51Court may limit powers of receiver, etc, in relation to property used by entity [Repealed]
52Giving notice under agreement about property [Repealed]
53When provisions do not apply [Repealed]
54Part applies only if creditors’ meeting is held [Repealed]
55Methods of holding meetings [Repealed]
56Adjournment of meeting [Repealed]
57Chairperson [Repealed]
58Quorum [Repealed]
59Proxies [Repealed]
60Postal or electronic votes [Repealed]
61Proposed arrangement may not be varied at meeting [Repealed]
62Bodies corporate may act by representatives [Repealed]
63Other proceedings [Repealed]
64Effect of irregularity or defect [Repealed]
65How notices or documents must be sent to creditors [Repealed]
66Effect of actions under schedule [Repealed]
67Right for new advance of money or credit may not be enforced [Repealed]
68Burden of proof [Repealed]
69Registrar must register or publicly notify information about notices [Repealed]
70Schedule does not prevent subsequent compromise, voluntary administration, receivership, or liquidation [Repealed]
71Effect of arrangement in liquidation of entity [Repealed]
72Crown not prevented from voting to approve arrangement [Repealed]
73Schedule applies despite anything contrary in Construction Contracts Act 2002 [Repealed]
74Arrangement treated as instalment arrangement under Tax Administration Act 1994 [Repealed]