Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p50
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 50/110)
Character Range: 280072–282961

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 company subject to the respective charges together constitutes the whole, or substantially the whole, of the company's property.

"(4) An administrator need not give a notice under subsection (3) to the person who appointed the administrator.

Execution of deed of company arrangement

"450B. As soon as practicable after a deed of company arrangement is executed, the deed's administrator must:

    (a)     send to each creditor of the company a written notice of the execution of the deed; and

  (b)     cause such a notice to be published:

       (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; and

  (c) lodge a copy of the deed.

Failure to execute deed of company arrangement

"450C. As soon as practicable after a company contravenes subsection 444B(2), the deed's administrator must:

    (a)     lodge a notice that the company has failed to execute the instrument within the required period; and

  (b)     cause a notice of the failure to be published as prescribed.

Termination of deed of company arrangement

"450D. Where a deed of company arrangement terminates because of paragraph 445C(b), the deed's administrator must:

   (a) lodge a notice of the termination; and

  (b)     send such a notice to each of the company's creditors; and

  (c)     cause such a notice to be published as prescribed.

Notice in public documents etc. of company

"450E.(1) A company under administration must set out, in every public document, and in every eligible negotiable instrument, of the company, after the company's name where it first appears, the expression '(administrator appointed)'.

"(2) Until a deed of company arrangement terminates, the company must set out, in every public document, and in every eligible negotiable instrument, of the company, after the company's name where it first appears, the expression '(subject to deed of company arrangement)'.

Effect of contravention of this Division

"450F. A contravention of this Division does not affect the validity of anything done or omitted under this Part, except so far as the Court otherwise orders.

"Division 17—Miscellaneous

Appointment of 2 or more administrators of company

"451A.(1) Where a provision of this Law provides for an administrator of a company to be appointed, 2 or more persons may be appointed as administrators of the company.

"(2) Where, because of subsection (1), there are 2 or more administrators of a company:

    (a)     a function or power of an administrator of the company may