Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p45
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 45/110)
Character Range: 267494–270293

of this section have effect accordingly.

"Division 13—Powers of Court

General power to make orders

"447A.(1) The Court may make such order as it thinks appropriate about how this Part is to operate in relation to a particular company.

"(2) For example, if the Court is satisfied that the administration of a company should end:

  (a)     because the company is solvent; or

  (b)     because provisions of this Part are being abused; or

  (c)     for some other reason;

the Court may order under subsection (1) that the administration is to end.

  "(3) An order may be made subject to conditions.

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

  (a)     the company; or

  (b)     a creditor of the company; or

     (c)     in the case of a company under administration—the administrator of the company; or

     (d)     in the case of a company that has executed a deed of company arrangement—the deed's administrator; or

  (e)     the Commission; or

  (f)      any other interested person.

Orders to protect creditors during administration

"447B.(1) On the application of the Commission, the Court may make such order as it thinks necessary to protect the interests of a company's creditors while the company is under administration.

"(2) On the application of a creditor of a company, the Court may make such order as it thinks necessary to protect the creditor's interests while the company is under administration.

  "(3) An order may be made subject to conditions.

Court may declare whether administrator validly appointed

"447C.(1) If there is doubt, on a specific ground, about whether a purported appointment of a person as administrator of a company, or of a deed of company arrangement, is valid, the person, the company or any of the company's creditors may apply to the Court for an order under subsection (2).

"(2) On an application, the Court may make an order declaring whether or not the purported appointment was valid on the ground specified in the application or on some other ground.

Administrator may seek directions

"447D.(1) The administrator of a company under administration, or of a deed of company arrangement, may apply to the Court for directions about a matter arising in connection with the performance or exercise of any of the administrator's functions and powers.

"(2) The administrator of a deed of company arrangement may apply to the Court for directions about a matter arising in connection with the operation of, or giving effect to, the deed.

Supervision of administrator of company or deed

"447E.(1) Where the Court is satisfied that the administrator of a company under administration, or of a deed of company arrangement:

    (a)     has managed, or is managing, the company's business, property or affairs in a way that is