Corporations Act 2001
If ASIC orders under section 489EA that a company be wound up, ASIC may appoint a liquidator for the purpose of winding up the affairs and distributing the property of the company.
[ CCH Note: Regulation 10.25.02(3)(h) (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.]
An appointment of a liquidator by ASIC must not be made without the written consent of the liquidator. 489EC(3)
A vacancy in the office of a liquidator appointed by ASIC is to be filled by the appointment of a liquidator by ASIC.