Document ID: chunk:federal_register_of_legislation:C2025C00185:schedule:2:p67
Version: federal_register_of_legislation:C2025C00185
Segment Type: schedule
Provision Reference: sch 2 (pt 67/73)
Character Range: 6480576–6483241

a company is under external administration.
 (3) If an application is made by a person referred to in paragraph (1)(b), the reasonable expenses associated with the application are to be taken to be expenses incurred by a person as a member of the committee.

90‑21  Meetings to ascertain wishes of creditors or contributories
 (1) The Court may, as to all matters relating to the external administration of a company, have regard to the wishes of the creditors or contributories as proved to it by any sufficient evidence.
 (2) The Court may, if it thinks fit for the purpose of ascertaining those wishes, direct meetings of the creditors or contributories to be convened, held and conducted in such manner as the Court directs, and may appoint a person to act as chair of any such meeting and to report the result of the meeting to the Court.
 (3) In the case of creditors, regard is to be had to the value of each creditor's debt.
 (4) In the case of contributories, regard is to be had to the number of votes conferred on each contributory by this Act or the company's constitution.

Subdivision C—Review by another registered liquidator

90‑22  Application of this Subdivision
  This Subdivision applies in relation to a company that is under external administration, other than a company in relation to which a provisional liquidator has been appointed.

90‑23  Appointment of reviewing liquidator by ASIC or the Court

Appointment by ASIC
 (1) A registered liquidator may be appointed by ASIC to carry out a review into a matter that relates to the external administration of the company, if ASIC considers it appropriate to do so.
 (2) ASIC may exercise the power under subsection (1):
 (a) on its own initiative; or
 (b) on application by a person with a financial interest in the external administration of the company; or
 (c) on the application of an officer of the company.
 (3) An application under paragraph (2)(b) or (c) must be lodged with ASIC in the approved form.
 (4) Paragraph (2)(c) has effect despite section 198G.
Note: Section 198G deals with powers of officers etc. while a company under external administration.
 (5) If ASIC appoints a registered liquidator to carry out a review, ASIC must specify:
 (a) the matters in relation to the external administration of the company which the liquidator is appointed to review; and
 (b) the way in which the cost of carrying out the review is to be determined.
 (5A) Subsections (1) to (5) do not apply to:
 (a) a company under restructuring; or
 (b) a company that has made a restructuring plan that has not yet terminated.

Appointment by the Court
 (6) A registered liquidator may be appointed