Document ID: chunk:federal_register_of_legislation:C2008A00105:clause:4_165a
Version: federal_register_of_legislation:C2008A00105
Segment Type: clause
Provision Reference: sch 4 cl 165A
Character Range: 152837–154027

165A  Effect on external administrator of judicial manager managing company

 (1) The appointment of an external administrator of a company is terminated when the management of the company vests in the judicial manager appointed by the Court.

 (2) An external administrator of a company must not be appointed while the management of the company is vested in the judicial manager appointed by the Court.

 (3) If:
 (a) a person who ceased to be the external administrator of a company under subsection (1); or
 (b) a purported external administrator of a company appointed in contravention of subsection (2);
purports to act in relation to the company's business while the management of the company is vested in a judicial manager, the purported act is invalid and of no effect.

 (4) As soon as possible after the Court orders the judicial management of a company and appoints a judicial manager, the judicial manager must inform the external administrator (if any) of the company that the management of the company vests in the judicial manager when the judicial management commences. However, failure to inform the external administrator does not affect the operation of this section.