74. Execution of Deed of Company Arrangement

(1) This Section applies where an instrument is prepared under Section 73 (Effect of creditors' resolution).
(2) The Company must execute the instrument within —
(a) fifteen (15) business days after the end of the meeting of creditors; or
(b) such further period as the Court allows on an application made within those fifteen (15) business days.
(3) The proposed administrator of the Deed of Company Arrangement must execute the instrument before, or as soon as practicable after, the Company executes it.
(4) When executed by both the Company and the proposed administrator, the instrument becomes a Deed of Company Arrangement.
(5) As soon as practicable after a Deed of Company Arrangement is executed, the administrator of the Deed of Company Arrangement must —
(a) send to each creditor of the Company a written notice of the execution of the Deed of Company Arrangement; and
(b) send to the Registrar a copy of the Deed of Company Arrangement.
(6) If a Company contravenes subsection (2), the proposed administrator of the Deed of Company Arrangement must, as soon as practicable thereafter —
(a) send to the Registrar a notice that the Company has failed to execute the instrument within the required period; and
(b) send such a notice to the Company's creditors.