Corporations Act 2001
Note: See section 600K .PART 3 - GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS Division 65 - Funds handling CLAUSE 65-1 SIMPLIFIED OUTLINE OF THIS DIVISION
The external administrator of a company has duties to:
The external administrator of a company may keep a single account for a group of related companies (called a pooled group).
People with a financial interest in the external administration of a company (such as creditors) may ask the Court to give directions to the external administrator about the way money and other property of the company is to be handled.
If the external administrator of a company does not comply with this Division, the external administrator may have to pay penalties, be paid less remuneration or be removed as external administrator.