Document ID: chunk:federal_register_of_legislation:C2025C00185:section:411:p6
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 411 (pt 6/7)
Character Range: 1396028–1398549

an external administrator of the body; and
 (ii) a reference in that Subdivision to an external administration were a reference to the administration of the compromise or arrangement; and
 (iii) a reference in that Subdivision to an external administrator were a reference to that person or to those persons.
 (10) An order of the Court made for the purposes of paragraph (4)(b) does not have any effect until an office copy of the order is lodged with ASIC, and upon being so lodged, the order takes effect, or is taken to have taken effect, on and from the date of lodgment or such earlier date as the Court determines and specifies in the order.
 (11) Subject to subsection (12), a copy of every order of the Court made for the purposes of paragraph (4)(b) must be annexed to every copy of the constitution of the body issued after the order has been made.
 (12) The Court may, by order, exempt a body from compliance with subsection (11) or determine the period during which the body must comply with that subsection.
 (13) Where a compromise or arrangement referred to in subsection (1) or (1A) (whether or not for the purposes of or in connection with a scheme for the reconstruction of a body or bodies or the amalgamation of any 2 or more bodies) has been proposed, the directors of the body must:
 (a) if a meeting of the members of the body by resolution so directs—instruct such accountants or solicitors or both as are named in the resolution to report on the proposals and send their report or reports to the directors as soon as practicable; and
 (b) if a report or reports is or are obtained pursuant to paragraph (a)—make the report or reports available at the registered office of the body for inspection by the shareholders and creditors of the body at least 7 days before the day of the meeting ordered by the Court to be convened as provided in subsection (1) or (1A), as the case may be.
 (14) If default is made in complying with subsection (11), the body contravenes this subsection.
 (15) If default is made in complying with subsection (13), each director of the body contravenes this subsection.
 (16) Where no order has been made or resolution passed for the winding up of a Part 5.1 body and a compromise or arrangement has been proposed between the body and its creditors or any class of them, the Court may, in addition to exercising any of its other powers, on the application in a summary way of the body or of any member or creditor of the body, restrain further proceedings in any action