Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 445F

Meeting of creditors to consider proposed variation or termination of deed

(1) The administrator of a deed of company arrangement:

may at any time convene a meeting of the company's creditors; and

must convene such a meeting if so requested in writing by creditors the value of whose claims against the company is not less than 10% of the value of all the creditors' claims against the company.

(2) A meeting under this section must be convened by the deed's administrator:

giving written notice of the meeting to as many of the company's creditors as reasonable practicable; and

causing notice of the meeting to be published:

in a national newspaper; or
in each State or Territory in which the company has its registered office or carries on business, in a daily newspaper that circulates generally in that State or Territory;
at least 5 business days before the meeting.

(3) The notice given to a creditor under paragraph (2)(a) must:

set out each resolution (if any) under section 445A or paragraph 445C(b) that the deed's administrator proposes that the meeting vote on; and

if the meeting is convened under paragraph (1)(b) of this section—set out each proposed resolution under section 445A or paragraph 445C(b) that is set out in the request.

(4) At a meeting convened under this section, the deed's administrator is to preside. (5) A meeting convened under this section may be adjourned from time to time.

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