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CORPORATIONS ACT 2001

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)    View history reference

Note: See section 600K.

PART 3 - GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS  

Division 90 - Review of the external administration of a company  

Subdivision C - Review by another registered liquidator  

CLAUSE 90-28  COURT ORDERS IN RELATION TO REVIEW  

Application of this section

90-28(1)  

This section applies if:


(a) a reviewing liquidator has been appointed under this Subdivision in relation to one or more matters; and


(b) the review has not been completed.

Court orders on application by the reviewing liquidator

90-28(2)  

On application by the reviewing liquidator, the Court may make any or all of the following orders in relation to the review:


(a) requiring the external administrator of the company or any other person to provide books, information or assistance to the reviewing liquidator;


(b) requiring the reviewing liquidator to carry out a review of one or more matters that relate to the external administration of the company and that are specified in the order instead of, or in addition to, the matters referred to in paragraph (1)(a);


(c) accepting the resignation of the reviewing liquidator, and appointing another registered liquidator as reviewing liquidator for the matter or matters;


(d) any other order that the Court thinks fit.

Court orders on application by a person with a financial interest

90-28(3)  

On application by a person mentioned in subsection (4), the Court may make any or all of the following orders in relation to the review:


(a) requiring the reviewing liquidator to carry out a review of one or more matters that relate to the external administration and that are specified in the order instead of, or in addition to, the matters referred to in paragraph (1)(a) of this section;


(b) removing from office the reviewing liquidator, and appointing another registered liquidator as reviewing liquidator for the matter or matters;


(c) any other order that the Court thinks fit.

90-28(4)  

The persons who may make an application under subsection (3) are:


(a) a person with a financial interest in the external administration of the company; or


(b) an officer of the company.

90-28(5)  

Paragraph (4)(b) has effect despite section 198G.

Note: Section 198G deals with powers of officers etc. while a company is under external administration.


 



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