Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p42
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 42/110)
Character Range: 259951–262714

subsection 439A(4) that accompanied a notice of the meeting at which the resolution was passed; or

     (c)     there was an omission from such a report or statement and the omission can reasonably be expected to have been material to such creditors in so deciding; or

     (d)     there has been a material contravention of the deed by a person bound by the deed; or

     (e)     effect cannot be given to the deed without injustice or undue delay; or

   (f) the deed or a provision of it is, an act or omission done or

     made under the deed was, or an act or omission proposed to be so done or made would be:

         (i) oppressive or unfairly prejudicial to, or unfairly discriminatory against, one or more such creditors; or

         (ii) contrary to the interests of the creditors of the company as a whole; or

   (g) the deed should be terminated for some other reason.

  "(2) An order may be made on the application of:

  (a)     a creditor of the company; or

  (b)    the company; or

  (c)     any other interested person.

Creditors may terminate deed and resolve that company be wound up

  "445E. Where:

    (a)     at a meeting convened under section 445F, the company's creditors pass a resolution terminating the deed; and

    (b)     the notice of the meeting set out a proposed resolution that the company be wound up;

the creditors may also resolve at the meeting that the company be wound up.

Meeting of creditors to consider proposed variation or termination of deed

  "445F.(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 jurisdiction in which the company has its registered office or carries on business, in a daily newspaper that circulates generally in that jurisdiction;

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