Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 450A

Appointment of administrator

             (1)  Where an administrator of a company is appointed under section 436A, 436B or 436C, the administrator must:

                     (a)  lodge a notice of the appointment before the end of the next business day after the appointment; and

                     (b)  cause a notice setting out the prescribed information about the appointment to be published, within the period ascertained in accordance with the regulations, in the prescribed manner.

          (1A)  A notice under paragraph (1)(b) that relates to a company may be combined with a notice under paragraph 436E(3)(b) that relates to the company.

             (2)  As soon as practicable, and in any event before the end of the next business day, after appointing an administrator of a company under section 436C, a person must give to the company a written notice of the appointment.

             (3)  As soon as practicable, and in any event before the end of the next business day, after an administrator of a company is appointed under section 436A, 436B or 436C, he or she must give a written notice of the appointment to:

                     (a)  each person who holds a security interest in the whole, or substantially the whole, of the company's property; and

                     (b)  each person who holds 2 or more security interests in property of the company where the property of the company subject to the respective security interests together constitutes the whole, or substantially the whole, of the company's property.

             (4)  An administrator need not give a notice under subsection (3) to the person who appointed the administrator.



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