Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT  

Division 2 - Appointment of administrator and first meeting of creditors  

SECTION 436E   PURPOSE AND TIMING OF FIRST MEETING OF CREDITORS  

436E(1)  
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


(b) if so, who are to be the committee ' s members.

436E(2)  


The meeting must be held within 8 business days after the administration begins.

436E(3)  


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.

Note: For electronic notification under paragraph (a), see section 600G .

436E(3A)  


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.

436E(4)  


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.


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