Document ID: chunk:federal_register_of_legislation:C2016A00011:schedule:2:p49
Version: federal_register_of_legislation:C2016A00011
Segment Type: schedule
Provision Reference: sch 2 (pt 49/71)
Character Range: 345568–348368

direction is a related entity in relation to the company;
 (iv) the direction is given no more than 20 business days after the resolution for the voluntary winding up of the company is passed.
 (2) However, the external administrator need not comply with the direction if the direction is not reasonable.
 (3) The Insolvency Practice Rules may prescribe circumstances in which a direction is, or is not, reasonable.
 (4) For the purposes of paragraphs (1)(c), (d) and (e), the value of the creditors is to be worked out by reference to the value of the creditors' claims against the company that are known at the time the direction is given.
 (5) This section does not apply if:
 (a) the external administrator is a provisional liquidator of the company; or
 (b) the external administrator is the administrator of the company and the company is under administration.

75‑20  External administrator must convene meeting if required by ASIC
 (1) ASIC may, in writing, direct an external administrator of a company to convene a meeting of the creditors.
 (2) ASIC may include in the direction requirements to be complied with by the external administrator in notifying the creditors of the meeting and in conducting the meeting.
 (3) The external administrator must comply with a direction given under subsection (1), and any requirements included in the direction under subsection (2).
 (4) A direction given under subsection (1) is not a legislative instrument.

75‑25  External administrator's representative at meetings
 (1) The external administrator of a company may, in writing, appoint a person to represent the external administrator at a meeting.
 (2) Subsection (1) does not apply to a meeting of a kind prescribed.
 (3) If the external administrator is not personally present at a meeting, then a reference in a provision of this Act to the external administrator of a company, in respect of matters occurring at or in connection with the meeting, is a reference to a person appointed to represent the external administrator at the meeting.

75‑30  ASIC may attend meetings
 (1) ASIC is entitled to attend any meeting of creditors or contributories held under this Act.
 (2) Subject to any provision of this Act (including any provision in relation to voting), ASIC is entitled to participate in any meeting of creditors held under this Act.

75‑35  Commonwealth may attend certain meetings etc.

Application of this section
 (1) This section applies if:
 (a) a company is under external administration; and
 (b) either:
 (i) a former employee of the company has made a claim for financial assistance from the Commonwealth in relation to unpaid employment entitlements; or
 (ii) the Commonwealth considers that such a claim is likely to be made.

Commonwealth may nominate representative for