Document ID: chunk:federal_register_of_legislation:F2022C01140:body:0:p47
Version: federal_register_of_legislation:F2022C01140
Segment Type: other
Provision Reference: 
Character Range: 128873–131969

the direction is given to the external administrator before the meeting is convened.

       75‑200  Notice requirements for unreasonable directions
 (1) This section is made for the purposes of section 80‑27(3) of the Insolvency Practice Schedule (Corporations) and applies instead of section 75‑250 in relation to directions to convene a meeting of the members of a pooled group if:
           (a) a direction to convene a meeting of the members of a pooled group is given to the external administrator under Division 80 of the Insolvency Practice Schedule (Corporations); and
           (b) under the Act or these Rules, it is not reasonable for the external administrator to comply with the direction.
 (2) The external administrator must:
           (a) notify the person or body giving the direction that it is not reasonable for the external administrator to comply with the direction, and of the reasons why it is not reasonable; and
           (b) make a written record in the books required to be kept under section 70 10 of the Insolvency Practice Schedule (Corporations) of the fact that the direction was not complied with, and of the reasons.

       Subdivision F—Additional rules for particular kinds of external administration

       75‑225  Companies under administration—how certain meetings are convened

        (1) The administrator of a company under administration must convene a meeting under:
           (a) section 439A of the Act (meeting to decide future of company under administration); or
           (b) subsection 449C(4) of the Act (vacancy in office of administrator);
       by written notice given to as many of the company's creditors as reasonably practicable.

            Note: Notice of the meeting must be lodged with ASIC—see section 75‑40.

        (2) The notice must:
           (a) be given at least 5 business days before the meeting; and
           (b) contain the following information:
              (i) the name of the company;
              (ii) any business name of the company;
              (iii) the ACN of the company;
              (iv) the fact that notice is being given under this section;
              (v) the time, date and place for the meeting;
              (vi) the purpose for which the meeting is being convened;
              (vii) the time and date by which proofs of debt, and proxies for the meeting, are to be submitted;
              (viii) the name and contact details of the administrator.

        (3) If the meeting is convened under section 439A of the Act, the notice must also be accompanied by:
           (a) a report by the external administrator about the company's business, property, affairs and financial circumstances; and
           (b) a statement setting out the following:
              (i) whether, in the administrator's opinion, it would be in the creditors' interests for the company to execute a deed of company arrangement;
              (ii) whether, in the administrator's opinion, it would be in the creditors' interests for the administration to end;
              (iii) whether, in the