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 436C   SECURED PARTY MAY APPOINT ADMINISTRATOR  

436C(1)  

A person who is entitled to enforce a security interest in the whole, or substantially the whole, of a company ' s property may by writing appoint an administrator of the company if the security interest has become, and is still, enforceable.

436C(1A)  

Subsection (1) applies in relation to a PPSA security interest only if the security interest is perfected within the meaning of the Personal Property Securities Act 2009 .

436C(2)  

Subsection (1) does not apply to a company if a person holds an appointment as liquidator, or provisional liquidator, of the company.