Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 436B

  (1)   A liquidator or provisional liquidator of a company may by writing appoint an administrator of the company if he or she thinks that the company is insolvent, or is likely to become insolvent at some future time.

  (2)   A liquidator or provisional liquidator of a company must not appoint any of the following persons under subsection   (1):

  (a)   himself or herself;

  (b)   if he or she is a partner of a partnership--a partner or employee of the partnership;

  (c)   if he or she is an employee--his or her employer;

  (d)   if he or she is an employer--his or her employee;

  (e)   if he or she is a director, secretary, employee or senior manager of a corporation--a director, secretary, employee or senior manager of the corporation;

unless:

  (f)   at a meeting of the company's creditors, the company's creditors pass a resolution approving the appointment; or

  (g)   the appointment is made with the leave of the Court.