Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3B - RESTRUCTURING OF A COMPANY  

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

Division 4 - The restructuring practitioner  

Subdivision D - Appointment of 2 or more restructuring practitioners  

SECTION 456N   APPOINTMENT OF 2 OR MORE RESTRUCTURING PRACTITIONERS OF RESTRUCTURING PLAN  

456N(1)    
Where a provision of this Act provides for a small business restructuring practitioner for a restructuring plan to be appointed, 2 or more persons may be appointed as small business restructuring practitioners of the plan.

456N(2)    
Where, because of subsection (1) , there are 2 or more small business restructuring practitioners for a restructuring plan:

(a)    a function, duty or power of a restructuring practitioner for the plan may be performed or exercised by any one of them, or by any 2 or more of them together, except so far as the plan, or the instrument appointing them, otherwise provides; and

(b)    a reference in this Act to a restructuring practitioner, or to the restructuring practitioner, for a restructuring plan is, in the case of the first-mentioned plan, a reference to whichever one or more of those restructuring practitioners the case requires.