Document ID: chunk:federal_register_of_legislation:C2025C00185:section:436e
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 436E
Character Range: 1513053–1514157

436E  Purpose and timing of first meeting of creditors
 (1) The administrator of a company under administration must convene a meeting of the company's creditors in order to determine:
 (a) whether to appoint a committee of inspection; and
 (b) if so, who are to be the committee's members.
 (2) The meeting must be held within 8 business days after the administration begins.
 (3) The administrator must convene the meeting by:
 (a) giving written notice of the meeting to as many of the company's creditors as reasonably practicable; and
 (b) causing a notice setting out the prescribed information about the meeting to be published in the prescribed manner;
at least 5 business days before the meeting.
 (3A) A notice under paragraph (3)(b) that relates to a company may be combined with a notice under paragraph 450A(1)(b) that relates to the company.
 (4) At the meeting, the company's creditors may also pass a resolution:
 (a) removing the administrator from office; and
 (b) appointing someone else as administrator of the company.

Division 3—Administrator assumes control of company's affairs