98BAppointment of administrator

98B Appointment of administrator (1) A body corporate, a creditor of a body corporate or a person having an estate or interest in a unit scheme may apply to the Tribunal for the appointment of an administrator for the body corporate. (2) The application must state the reasons for appointing an administrator and may include the name of a person who has consented to act as the administrator. (3) On an application, the Tribunal may, if satisfied that the order is justified, by order: (a) appoint a person to be administrator of the body corporate; and (b) fix the terms and conditions of the appointment it considers appropriate. (4) The remuneration of, and expenses incurred by, the administrator are taken to be expenditures of the body corporate.