Document ID: chunk:federal_register_of_legislation:C2025C00185:section:436a
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 436A
Character Range: 1507699–1508250

436A  Company may appoint administrator if board thinks it is or will become insolvent
 (1) A company may, by writing, appoint an administrator of the company if the board has resolved to the effect that:
 (a) in the opinion of the directors voting for the resolution, the company is insolvent, or is likely to become insolvent at some future time; and
 (b) an administrator of the company should be appointed.
 (2) Subsection (1) does not apply to a company if a person holds an appointment as liquidator, or provisional liquidator, of the company.