Corporations Amendment (Insolvency) Act 2007 (132 of 2007)

Schedule 1   Improving outcomes for creditors

Part 3   Streamlining external administration

Corporations Act 2001

111   At the end of section 497

Add:

(11) At a meeting of creditors held under this section, the creditors may, by resolution:

(a) remove the liquidator from office; and

(b) appoint another person as liquidator instead.