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CORPORATIONS ACT 2001 - SECT 436C Secured party may appoint administrator

CORPORATIONS ACT 2001 - SECT 436C

Secured party may appoint administrator

  (1)   A person who is entitled to enforce a security interest in the whole, or substantially the whole, of a company's property may by writing appoint an administrator of the company if the security interest has become, and is still, enforceable.

  (1A)   Subsection   (1) applies in relation to a PPSA security interest only if the security interest is perfected within the meaning of the Personal Property Securities Act 2009 .

  (2)   Subsection   (1) does not apply to a company if a person holds an appointment as liquidator, or provisional liquidator, of the company.

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