Corporations Act 2001
The administrator of a company under administration must convene a meeting of the company ' s creditors in order to determine:
(a) whether to appoint a committee of inspection; and
[ CCH Note: Regulation 10.25.02(3)(g) (which was effective 1 March 2017) provides that the amendments made by No 11 of 2016, s 3, Sch 2 apply in relation to external administrations on and after 1 September 2017.]
(b) if so, who are to be the committee ' s members.
The meeting must be held within 8 business days after the administration begins.
The administrator must convene the meeting by:
(a) giving written notice of the meeting to as many of the company ' s creditors as reasonably practicable; and
(b) causing a notice setting out the prescribed information about the meeting to be published in the prescribed manner;
at least 5 business days before the meeting.
A notice under paragraph (3)(b) that relates to a company may be combined with a notice under paragraph 450A(1)(b) that relates to the company.
At the meeting, the company ' s creditors may also pass a resolution:
(a) removing the administrator from office; and
(b) appointing someone else as administrator of the company.