Document ID: chunk:federal_register_of_legislation:C2025C00185:schedule:2:p64
Version: federal_register_of_legislation:C2025C00185
Segment Type: schedule
Provision Reference: sch 2 (pt 64/73)
Character Range: 6473177–6476006

ASIC or a person with a financial interest in the external administration of the company (such as a creditor of the company).
      The Court has wide powers to make orders, including orders replacing the external administrator or dealing with losses resulting from a breach of duty by the external administrator.
      Review by another registered liquidator
      ASIC, the Court, creditors or members of a company may appoint a registered liquidator to review the external administration of the company in most cases. Such a review may look at a range of matters, including whether the remuneration of the external administrator is reasonable and whether costs and expenses have been properly incurred.
      The Insolvency Practice Rules may set the powers and duties of a registered liquidator conducting such a review and may deal with issues relating to the review process.
      If a provisional liquidator has been appointed for the company, review by another registered liquidator is not available.
      If the company is under restructuring or has made a restructuring plan that has not yet terminated, a reviewing liquidator can only be appointed by the Court.
      Removal of external administrator by creditors
      The creditors of a company under external administration (other than a company for which a provisional liquidator has been appointed) may remove the external administrator of the company and appoint another. However, the external administrator may apply to the Court to be reappointed.

Subdivision B—Court powers to inquire and make orders

90‑5  Court may inquire on own initiative
 (1) The Court may, on its own initiative during proceedings before the Court, inquire into the external administration of a company.
 (2) The Court may, for the purposes of such an inquiry, require a person who is or has at any time been the external administrator of the company to:
 (a) give information; or
 (b) provide a report; or
 (c) produce a document;
to the Court in relation to the external administration of the company.
 (3) This section does not limit the Court's powers under any other provision of this Act, or under any other law.

90‑10  Court may inquire on application of creditors etc.
 (1) The Court may, on the application of a person mentioned in subsection (2), inquire into the external administration of a company.
 (2) Each of the following persons may make an application for an inquiry:
 (a) a person with a financial interest in the external administration of the company;
 (b) an officer of the company;
 (c) if the committee of inspection (if any) so resolves—a creditor, on behalf of the committee;
 (d) ASIC.
 (3) Paragraph (2)(b) has effect despite section 198G.
Note: Section 198G deals with powers of officers etc. while a company is under external administration.
 (4) The