THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.4B - WINDING UP IN INSOLVENCY OR BY THE COURT

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Division 3 - General powers of Court

SECTION 484   APPOINTMENT OF SPECIAL MANAGER  

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484(1)  [Application by liquidator]  

The liquidator may, if satisfied that the nature of the property or business of the company, or the interests of the creditors or contributories generally, requires or require the appointment of a special manager of the property or business of the company other than himself or herself, apply to the Court, and the Court may appoint a special manager of the property or business to act during such time as the Court directs with such powers, including any of the powers of a receiver or manager, as are entrusted to him or her by the Court.

484(2)  [Security, remuneration, resignation or removal]  

The special manager:

(a)  shall give such security and account in such manner as the Court directs;

(b)  shall receive such remuneration as is fixed by the Court; and

(c)  may at any time resign by notice in writing addressed to the liquidator or may, on cause shown, be removed by the Court.

 

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