Corporations Act 2001

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)  

Note: See section 600K .

PART 4 - OTHER MATTERS  

Division 100 - Other matters  

CLAUSE 100-5   EXTERNAL ADMINISTRATOR MAY ASSIGN RIGHT TO SUE UNDER THIS ACT  

100-5(1)  
Subject to subsections (2) and (3), an external administrator of a company may assign any right to sue that is conferred on the external administrator by this Act.

100-5(2)  
If the external administrator ' s action has already begun, the external administrator cannot assign the right to sue unless the external administrator has the approval of the Court.

100-5(3)  
Before assigning any right under subsection (1), the external administrator must give written notice to the creditors of the proposed assignment.

100-5(4)  
If a right is assigned under this section, a reference in this Act to the external administrator in relation to the action is taken to be a reference to the person to whom the right has been assigned.


 

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