CORPORATIONS ACT 2001
Note: See section
GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS
Review of the external administration of a company
Review by another registered liquidator
If a reviewing liquidator is appointed under this Subdivision in relation to a matter, the reviewing liquidator must carry out a review into that matter.
Reviews relating to remuneration, costs or expenses
If the matter is, or includes, remuneration of the external administrator of the company, the review may (but need not) include an assessment of whether the remuneration is reasonable.
If the matter is, or includes, a cost or expense incurred by the external administrator of the company, the review must include an assessment of whether the cost or expense was properly incurred by the external administrator.
Note: Insolvency Practice Rules made under section
may provide for the meaning of
A reviewing liquidator must not review:
(a) remuneration of an external administrator of the company that relates to a period; or
(b) a cost or expense incurred by the external administrator of the company incurred during a period;
unless the period is:
(c) for a reviewing liquidator appointed by the Court under paragraph
the period determined by the Court; or
the prescribed period.
Report of review
A reviewing liquidator must prepare a report on the review.