Section 250PAB — Corporations Act 2001: Exemptions by ASIC—individual externally-administered companies

(1) The liquidator of a company that is being wound up may lodge an application with ASIC to exempt the company from section 250N. (2) The administrator of a company under administration may lodge an application with ASIC to exempt the company from section 250N. (3) The administrator of a deed of company arrangement may lodge an application with ASIC to exempt the company from section 250N. (3A) The restructuring practitioner for a company under restructuring may lodge an application with ASIC to exempt the company from section 250N. (3B) The restructuring practitioner for a restructuring plan for a company may lodge an application with ASIC to exempt the company from section 250N. (4) If an application is lodged under subsection (1), (2) or (3), ASIC may, by writing, exempt the company from section 250N. (5) The exemption may be: (a) unconditional; or (b) subject to one or more specified conditions. (6) ASIC must cause a copy of the exemption to be published in the Gazette.