Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) Where the restructuring practitioner for a company's restructuring plan:
(a) dies; or
(b) becomes prohibited from acting as restructuring practitioner for the plan; or
(c) resigns by notice in writing given to the company;
the appointer may appoint someone else as restructuring practitioner for the restructuring plan.
(2) In subregulation (1):
"appointer " , in relation to the restructuring practitioner for a company's restructuring plan, means:
(a) if the restructuring practitioner was appointed by the Court under Division 90 of Schedule 2 to the Act (review of the external administration of a company) or subregulation (4) of this regulation--the Court; or
(b) the company.
(3) An appointment under subregulation (1) by the company must be made by resolution of the board.
(4) Where a company has made a restructuring plan, but for some reason no restructuring practitioner for the plan is acting, the Court may appoint a person as restructuring practitioner for the plan on the application of ASIC or of an officer, member or creditor of the company.