473AVacancies in office of court‑appointed liquidator

473A  Vacancies in office of court‑appointed liquidator  (1) A vacancy in the office of a liquidator appointed by the Court may be filled by:  (a) the Court; or  (b) ASIC.  (2) If ASIC fills a vacancy in the office of a liquidator under subsection (1), ASIC must:  (a) publish notice of the filling of the vacancy; and  (b) publish the notice in the prescribed manner.  (3) If ASIC fills a vacancy in the office of a liquidator under subsection (1), the liquidator is taken, for the purposes of this Act, to be appointed by the Court.  (4) If more than one liquidator is appointed under this section, the Court or ASIC (as the case may be) must declare whether anything that is required or authorised by this Act to be done by the liquidator is to be done by all or any one or more of the persons appointed.  (5) If a declaration made by ASIC under subsection (4) is inconsistent with a declaration of the Court made under that subsection, the declaration of the Court prevails to the extent of any inconsistency. 145  Subsections 475(4) and (5) 146  Subsection 475(7) Omit “7 days”, substitute “5 business days”. 147  Section 476 148  After subsection 477(2B)  (2C) Subsection (2B) does not apply to an agreement if the costs and expenses of the company under the agreement are to be paid out of money paid to the liquidator:  (a) by ASIC on behalf of the Commonwealth; and  (b) for the purpose of paying the costs and expenses. 149  Subsection 477(4) 150  Subsection 477(6)  (6) Subject to this Part, the liquidator must use his or her own discretion in the management of affairs and property of the company and the distribution of its property. 151  Section 479 152  Paragraph 481(1)(a) Omit “section 539”, substitute “section 70‑15 of Schedule 2 (audit of administration books)”. 153  Paragraph 482(2A)(d)  (d) any document that accompanied a notice of the meeting under section 439A when the company was under administration; 154  Subsection 488(1) After “this Part”, insert “or Schedule 2”. 155  Section 489D (heading) 489D  Court’s power to make orders under other provisions 156  Subsections 489D(1) and (2) After “598 or 1323”, insert “, or section 45‑1 or 90‑15 of Schedule 2”. 157  Subsection 489EC(1)  (1) If ASIC orders under section 489EA that a company be wound up, ASIC may appoint a liquidator for the purpose of winding up the affairs and distributing the property of the company. Note: For the remuneration of liquidators appointed under this section, see Subdivision D of Division 60 of Schedule 2. 158  Section 495