Commonwealth Consolidated Regulations

CORPORATIONS REGULATIONS 2001 - REG 5.3B.37

                   The functions of the restructuring practitioner for a company's restructuring plan are:

                     (a)  to receive money from, and hold money on trust for, the company; and

                     (b)  to pay the money to creditors in accordance with the plan; and

                     (c)  if requested to do so by the company's directors:

                              (i)  to realise the property of the company that is available to pay creditors in accordance with the plan; and

                             (ii)  to distribute the proceeds of the realisation of the property among the creditors in accordance with the plan; and

                     (d)  to answer questions about the performance or exercise of any of the restructuring practitioner's functions and powers as restructuring practitioner for the plan; and

                     (e)  to do anything that is incidental to the performance or exercise of those functions and powers; and

                      (f)  to do anything else that is necessary or convenient for the purpose of administering the plan.