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

 View history note

Division 13 - Powers of Court

 View history note

SECTION 447E   SUPERVISION OF ADMINISTRATOR OF COMPANY OR DEED  

View history reference

447E(1)  [Administrator's actions prejudicial to creditors, etc]  

Where the Court is satisfied that the administrator of a company under administration, or of a deed of company arrangement:

(a)  has managed, or is managing, the company's business, property or affairs in a way that is prejudicial to the interests of some or all of the company's creditors or members; or

(b)  has done an act, or made an omission, or proposes to do an act, or to make an omission, that is or would be prejudicial to such interests;

the Court may make such order as it thinks just.

 View history note

447E(2)  [Vacancy in office of administrator]  

Where the Court is satisfied that:

(a)  a company is under administration but:

(i) there is a vacancy in the office of administrator of the company; or
(ii) no administrator of the company is acting; or

(b)  a deed of company arrangement has not yet terminated but:

(i) there is a vacancy in the office of administrator of the deed; or
(ii) no administrator of the deed is acting;

the Court may make such order as it thinks just.

 View history note

447E(3)  [Who may apply for order]  

An order may only be made on the application of the Commission or of a creditor or member of the company.

 View history note

 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.