101At the end of section 435A

101  At the end of section 435A

Add:

Note: Schedule 2 contains additional rules about companies under external administration.

102  Paragraph 436DA(6)(a)

 (a) if:

 (i) there is a committee of inspection; and

 (ii) the next meeting of the committee of inspection occurs before the next meeting of the company’s creditors;

  at the next meeting of the committee of inspection; or

103  Paragraph 436E(1)(a)

 (a) whether to appoint a committee of inspection; and

104  Sections 436F, 436G and 437C

105  Subsection 438B(2)

Omit “statement”, substitute “report in the prescribed form”.

106  After subsection 438B(2)

 (2A) The administrator must, within 5 business days after receiving a report under subsection (2), lodge a copy of the report.

107  Subsection 438B(4)

After “(2)”, insert “, (2A)”.

108  Section 438E

109  Subsections 439A(3) and (4)

110  Section 439B

111  Paragraph 439C(a)

Omit “the notice”, substitute “any notice”.

112  Subsections 441A(3), 441B(2) and 441C(2)

113  Section 441E

114  Subsections 441F(2) and 441G(1)

115  Section 441J

116  Paragraph 443D(b)

 (b) the remuneration to which he or she is entitled under Division 60 of Schedule 2 (external administrator’s remuneration).

117  Subsection 444B(4)

118  Section 445A

Omit “convened under section 445F”.

119  Paragraph 445C(b)

Omit “that was convened under section 445F by a notice setting out the proposed resolution”.

120  Paragraph 445D(1)(b)

Omit “report or statement under subsection 439A(4)”, substitute “document”.

121  Paragraph 445D(1)(c)

Omit “report or statement”, substitute “document”.

122  Paragraph 445E(a)

 (a) the company’s creditors pass a resolution at a meeting terminating the deed; and

123  Section 445F

124  Division 11A of Part 5.3A of Chapter 5

Repeal the Division.

125  Paragraph 446A(1)(c)

Omit “at a meeting convened under section 445F, a”, substitute “the”.

126  Paragraph 446A(7)(a)

Omit “subsection 499(4)”, substitute “section 198G (exercise of powers while company under external administration)”.

127  Subsection 446B(2)