termination of deed (1) The administrator of a deed of company arrangement:
- (a)
- may at any time convene a meeting of the company's creditors; and
- (b)
- 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:
- (a)
- giving written notice of the meeting to as many of the company's creditors
as reasonable practicable; and
- (b)
- causing notice of the meeting to be published:
- (i)
- in a national newspaper; or
- (ii)
- 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:
- (a)
- 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
- (b)
- 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.
Commonwealth Numbered Acts