Document ID: chunk:federal_register_of_legislation:C2025C00185:schedule:2:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: schedule
Provision Reference: sch 2 (pt 2/73)
Character Range: 6314660–6317484

explained.
      Some of the key terms, the meaning of which is explained in this Division, are external administration of a company and external administrator of a company.

Subdivision B—The Dictionary

5‑5  The Dictionary
Note: A number of expressions used in this Schedule are defined in section 9 of this Act.
  In this Schedule:
adequate and appropriate fidelity insurance has a meaning affected by subsection 25‑1(2).
adequate and appropriate professional indemnity insurance has a meaning affected by subsection 25‑1(2).
administration account: see section 65‑5.
annual administration return means the return required to be lodged under subsection 70‑5(3).
annual liquidator return means the return required to be lodged under subsection 30‑1(1).
approved form: a document is lodged in the approved form if it is lodged in accordance with section 100‑6.
committee of inspection for a company means:
 (a) a committee appointed under sections 80‑10 to 80‑25 in relation to the external administration of the company; or
 (b) a committee that is taken to be a committee of inspection in relation to the external administration of the company under subsection 80‑26(3) (the company is a member of a pooled group).
creditor, when used in relation to a company under external administration, means a creditor of the company.
current conditions: see section 5‑10.
end of administration return means the return required to be lodged under subsection 70‑6(2).
end of an external administration of a company means:
 (a) in relation to a company under administration—the day worked out under paragraph 435C(1)(b); and
 (b) in relation to a company subject to a deed of company arrangement—the day the deed is terminated; and
 (ba) in relation to a company under restructuring—the day worked out under regulations made for the purposes of paragraph 453A(b); and
 (bb) in relation to a company subject to a restructuring plan—the day the plan is terminated; and
 (c) in the case of a winding up of a company—the day on which the affairs of the company are fully wound up.
external administration of a company: see section 5‑15.
external administrator of a company: see section 5‑20.
financial interest: a person has a financial interest in the external administration of a company in the circumstances set out in section 5‑30.
GST has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999.
Insolvency Practice Rules means the rules made by the Minister under section 105‑1.
Insolvency Practice Schedule (Bankruptcy) means Schedule 2 to the Bankruptcy Act 1966, and includes rules made under section 105‑1 of that Schedule.
March quarter means the period of 3 months beginning on 1 January.
maximum default amount for an external administrator of a company: see section 60‑15.
member of a pooled group: see