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  

Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .

Division 5 - Meeting of creditors decides company's future  

SECTION 439A   ADMINISTRATOR TO CONVENE MEETING AND INFORM CREDITORS  

439A(1)    
The administrator of a company under administration must convene a meeting of the company ' s creditors within the convening period as fixed by subsection (5) or extended under subsection (6).

Note: For body corporate representatives ' powers at a meeting of the company ' s creditors, see section 250D.


439A(2)    


The meeting must be held within 5 business days before, or within 5 business days after, the end of the convening period.

439A(3)    
(Repealed by No 11 of 2016, s 3, Sch 2 [ 109] (effective 1 March 2017).)


439A(4)    
(Repealed by No 11 of 2016, s 3, Sch 2 [ 109] (effective 1 March 2017).)


439A(5)    
The convening period is:


(a) if the day after the administration begins is in December, or is less than 25 business days before Good Friday - the period of 25 business days beginning on:


(i) that day; or

(ii) if that day is not a business day - the next business day; or


(b) otherwise - the period of 20 business days beginning on:


(i) the day after the administration begins; or

(ii) if that day is not a business day - the next business day.

439A(6)    


The Court may extend the convening period on an application made during or after the period referred to in paragraph (5)(a) or (b), as the case requires.

439A(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.


439A(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.



 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.