Corporations Act 2001
Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .
View history note
Hide history noteWhere the restructuring practitioner for a company: (a) dies; or (b) becomes prohibited from acting as restructuring practitioner for the company; or (c) resigns by notice in writing given to the company;
the appointer may appoint someone else as restructuring practitioner for the company.
456E(2)
In subsection (1) :
appointer
, in relation to the restructuring practitioner for a company, means:
(a) if the restructuring practitioner was appointed by the Court under Division 90 of Schedule 2 (review of the external administration of a company) or subsection (4) of this section - the Court; or
(b) the company.
456E(3)
An appointment under subsection (1) by the company must be made by resolution of the board.
456E(4)
Where a company is under restructuring, but for some reason no restructuring practitioner is acting, the Court may appoint a person as restructuring practitioner on the application of ASIC or of an officer, member or creditor of the company.
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