THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT

Division 2 - Appointment of administrator and first meeting of creditors

SECTION 436F   FUNCTIONS OF COMMITTEE OF CREDITORS  

436F(1)  [Functions]  

The functions of a committee of creditors of a company under administration are:

(a)  to consult with the administrator about matters relating to the administration; and

(b)  to receive and consider reports by the administrator.

436F(2)  [Committee cannot give directions]  

A committee cannot give directions to the administrator, except as provided in subsection (3).

436F(3)  [Administrator to report]  

As and when a committee reasonably requires, the administrator must report to the committee about matters relating to the administration.