Corporations Act 2001
CHAPTER 5
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EXTERNAL ADMINISTRATION
PART 5.3A
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ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT
Division 2
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Appointment of administrator and first meeting of creditors
SECTION 436A
COMPANY MAY APPOINT ADMINISTRATOR IF BOARD THINKS IT IS OR WILL BECOME INSOLVENT
436A(1)
[
How company may appoint administrator]
(a) in the opinion of the directors voting for the resolution, the company is insolvent, or is likely to become insolvent at some future time; and
(b) an administrator of the company should be appointed. 436A(2) [ Limitation]
A company may, by writing, appoint an administrator of the company if the board has resolved to the effect that:
(a) in the opinion of the directors voting for the resolution, the company is insolvent, or is likely to become insolvent at some future time; and
(b) an administrator of the company should be appointed. 436A(2) [ Limitation]
Subsection (1) does not apply to a company if a person holds an appointment as liquidator, or provisional liquidator, of the company.
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