Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 456N

Appointment of 2 or more restructuring practitioners of restructuring plan

  (1)   Where a provision of this Act provides for a small business restructuring practitioner for a restructuring plan to be appointed, 2 or more persons may be appointed as small business restructuring practitioners of the plan.

  (2)   Where, because of subsection   (1), there are 2 or more small business restructuring practitioners for a restructuring plan:

  (a)   a function, duty or power of a restructuring practitioner for the plan may be performed or exercised by any one of them, or by any 2 or more of them together, except so far as the plan, or the instrument appointing them, otherwise provides; and

  (b)   a reference in this Act to a restructuring practitioner, or to the restructuring practitioner, for a restructuring plan is, in the case of the first - mentioned plan, a reference to whichever one or more of those restructuring practitioners the case requires.


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