Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p49
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 49/110)
Character Range: 277525–280310

and (6) have effect despite section 437C.

Vacancy in office of administrator of deed of company arrangement

"449D.(1) Where the administrator of a deed of company arrangement:

  (a)     dies; or

    (b)     becomes prohibited from acting as administrator of the deed; or

  (c)     resigns by notice in writing given to the company;

the Court may appoint someone else as administrator of the deed.

"(2) Where a deed of company arrangement has not yet terminated, but for some reason no administrator of the deed is acting, the Court may appoint a person as administrator of the deed.

"(3) An appointment may be made on the application of the Commission or of an officer, member or creditor of the company.

Remuneration of administrator

"449E.(1) The administrator of a company under administration, or of a deed of company arrangement, is entitled to:

    (a)     such remuneration as is fixed by a resolution of the company's creditors passed at a meeting convened under section 439A, or under section 439A or 445F, as the case may be; or

    (b)     if no remuneration is so fixed—such remuneration as the Court fixes on the application of the administrator.

"(2) Where remuneration is fixed under paragraph (1)(a), the Court may, on the application of the administrator or of an officer, member or creditor of the company:

  (a)     review the remuneration; and

  (b)     confirm, increase or reduce it.

  "(3) Subsection (2) has effect despite section 437C.

"Division 16—Notices about steps taken under Part

Appointment of administrator

"450A.(1) Where an administrator of a company is appointed under section 436A, 436B or 436C, the administrator must:

    (a)     lodge a notice of the appointment before the end of the next business day after the appointment; and

    (b)     cause such a notice to be published, within 3 business days after the appointment:

       (i) in a national newspaper; or

         (ii) in each jurisdiction in which the company has its registered office or carries on business, in a daily newspaper that circulates generally in that jurisdiction.

"(2) As soon as practicable, and in any event before the end of the next business day, after appointing an administrator of a company under section 436C, a person must give to the company a written notice of the appointment.

"(3) As soon as practicable, and in any event before the end of the next business day, after an administrator of a company is appointed under section 436A, 436B or 436C, he or she must give a written notice of the appointment to:

    (a)     each person who holds a charge on the whole, or substantially the whole, of the company's property; and

    (b)     each person who holds 2 or more charges on property of the company where the property of the