Corporations Amendment (Insolvency) Act 2007 (132 of 2007)

Schedule 4   Fine-tuning voluntary administration

Part 1   General

Corporations Act 2001

19   At the end of section 439A

Add:

(7) If an application is made under subsection (6) after the period referred to in paragraph (5)(a) or (b), as the case may be, the Court may only extend the convening period if the Court is satisfied that it would be in the best interests of the creditors if the convening period were extended in accordance with the application.

(8) If an application is made under subsection (6) after the period referred to in paragraph (5)(a) or (b), as the case may be, then, in making an order about the costs of the application, the Court must have regard to:

(a) the fact that the application was made after that period; and

(b) any other conduct engaged in by the administrator; and

(c) any other relevant matters.