Corporations Act 2001

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)  

Note: See section 600K .

PART 3 - GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS  

Division 75 - Meetings  

CLAUSE 75-21   RESTRUCTURING AND RESTRUCTURING PLANS  

75-21(1)    
Sections 75-10 , 75-15 and 75-20 do not apply to:

(a)    a company under restructuring; or

(b)    a company that has made a restructuring plan that has not yet terminated.

75-21(2)    
However, the restructuring practitioner for a company, or for a restructuring plan, may convene a meeting of the creditors if the restructuring practitioner is satisfied that:

(a)    there are exceptional circumstances; and

(b)    it is in the interests of the creditors to do so.