Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

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

Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .

Division 2 - Appointment of administrator and first meeting of creditors  

SECTION 436E   PURPOSE AND TIMING OF FIRST MEETING OF CREDITORS  

436E(1)    
The administrator of a company under administration must convene a meeting of the company ' s creditors in order to determine:

(a) whether to appoint a committee of inspection; and

(b) if so, who are to be the committee ' s members.

436E(2)    

The meeting must be held within 8 business days after the administration begins.

436E(3)    

The administrator must convene the meeting by:

(a) giving written notice of the meeting to as many of the company ' s creditors as reasonably practicable; and

(b) causing a notice setting out the prescribed information about the meeting to be published in the prescribed manner;

at least 5 business days before the meeting.

436E(3A)    

A notice under paragraph (3)(b) that relates to a company may be combined with a notice under paragraph 450A(1)(b) that relates to the company.

436E(4)    

At the meeting, the company ' s creditors may also pass a resolution:

(a) removing the administrator from office; and

(b) appointing someone else as administrator of the company.