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 16 - Notices about steps taken under Part

SECTION 450A   APPOINTMENT OF ADMINISTRATOR  

450A(1)  [Administrator to lodge notice of appointment]  

Where an administrator of a company is appointed under section 436A, 436B or 436C, the administrator must:

(a)  lodge a notice of the appointment before the end of the next business day after the appointment; and

(b)  cause such a notice to be published, within 3 business days after the appointment:

(i) in a national newspaper; or

(ii) in each jurisdiction in which the company has its registered office or carries on business in a daily newspaper that circulates generally in that jurisdiction.

450A(2)  [Notice to company]  

As soon as practicable, and in any event before the end of the next business day, after appointing an administrator of a company under section 436C, a person must give to the company a written notice of the appointment.

450A(3)  [Notice to chargeholders]  

As soon as practicable, and in any event before the end of the next business day, after an administrator of a company is appointed under section 436A, 436B or 436C, he or she must give a written notice of the appointment to:

(a)  each person who holds a charge on the whole, or substantially the whole, of the company's property; and

(b)  each person who holds 2 or more charges on property of the company where the property of the company subject to the respective charges together constitutes the whole, or substantially the whole, of the company's property.

450A(4)  [Person who appointed administrator]  

An administrator need not give a notice under subsection (3) to the person who appointed the administrator.