Document ID: chunk:federal_register_of_legislation:C2020A00130:clause:1_456e
Version: federal_register_of_legislation:C2020A00130
Segment Type: clause
Provision Reference: sch 1 cl 456E
Character Range: 60594–61624

456E  Vacancy in office of restructuring practitioner for company
 (1) Where the restructuring practitioner for a company:
 (a) dies; or
 (b) becomes prohibited from acting as restructuring practitioner for the company; or
 (c) resigns by notice in writing given to the company;
the appointer may appoint someone else as restructuring practitioner for the company.
 (2) In subsection (1):
appointer, in relation to the restructuring practitioner for a company, means:
 (a) if the restructuring practitioner was appointed by the Court under Division 90 of Schedule 2 (review of the external administration of a company) or subsection (4) of this section—the Court; or
 (b) the company.
 (3) An appointment under subsection (1) by the company must be made by resolution of the board.
 (4) Where a company is under restructuring, but for some reason no restructuring practitioner is acting, the Court may appoint a person as restructuring practitioner on the application of ASIC or of an officer, member or creditor of the company.