Restructuring – the Corporations Act

Scope	Related Regulation	Corporations Act	Explanation
Preliminary – Objects & Definitions	Reg 5.3B.01	s452A – s452B	Sets out the object of the Part and key definitions (e.g., admissible debt or claim, affected creditor, proposal period).
When restructuring begins and ends	Reg 5.3B.02	s453A	Defines the concept of “restructuring” and how/when it is taken to begin or end.
Appointment of Restructuring Practitioner	Reg 5.3B.03	s453B – s453D	Requirements for appointing an RP, eligibility criteria and DIRRI requirements.
Role and powers of the RP	Reg 5.3B.06, Reg 5.3B.07, Reg 5.3B.08, Reg 5.3B.11	s453E – s453J	Functions, duties, powers, access to books, RP acting as agent, and power to terminate restructuring.
Conduct of company during restructuring	Reg 5.3B.04, Reg 5.3B.05	s453K – s453P	Control of the company remains with directors; rules for trading during restructuring.
Effects of restructuring on company	—	s453Q – s453X	Stay of proceedings, restrictions on enforcement, protection for directors/guarantors, court oversight.
Rights of secured parties, owners, lessors	—	s454A – s454M	Rules for PPSA security interests, perishable property, recovery rights and court limits on enforcement.
Stay on enforcing rights triggered by restructuring	Reg 5.3B.12	s454N – s454S	Ipso facto stay; limits, exceptions and court permissions.
Proposing a restructuring plan	Reg 5.3B.14 – Reg 5.3B.24	s455A	How a plan is proposed, the proposal period, RP declarations, notifying defects, creditor disputes and voting.
Acceptance and effect of plan	Reg 5.3B.25 – Reg 5.3B.32	—	Making, accepting and binding effect of restructuring plan; termination and consequences.
Restructuring Plan – RP provisions	Reg 5.3B.33 – Reg 5.3B.45	—	RP appointment, replacement, declarations, powers, liability protection, indemnity and priority.
Plan contents & forms	Reg 5.3B.13, Reg 5.3B.15, Reg 5.3B.16	s455B	Regulatory requirements for plan contents and the restructuring proposal statement (Form 5.3B.65).
Qualifications of RP	—	s456A – s456C	Consent, requirement to be an RL, disqualification rules.
Replacement of RP	Reg 5.3B.09	s456D – s456F	Vacancy rules, replacement RP obligations and DIRRI requirements.
RP rights and liabilities	Reg 5.3B.46, Reg 5.3B.47	s456G – s456LB	Rights, indemnity, lien priority, qualified privilege, and protection for persons dealing with the RP.
Information, notices, reports	Reg 5.3B.48 – Reg 5.3B.58	s457A – s457C	Director declarations, notices of appointment/termination, publication requirements and contravention notices.
Powers of the Court	Reg 5.3B.59 – Reg 5.3B.64	s458A – s458B	Court powers to vary, void or terminate plans; resolve disputes; and limit secured creditor rights.
Restructuring relief & timing	Reg 5.3B.65	s458C – s458H	Timing rules, temporary restructuring relief, director declarations and RL reporting obligations.