Section 436E — Corporations Act 2001: Purpose and timing of first meeting of creditors

(1) The administrator of a company under administration must convene a meeting of the company’s creditors in order to determine: (a) whether to appoint a committee of inspection; and (b) if so, who are to be the committee’s members. (2) The meeting must be held within 8 business days after the administration begins. (3) The administrator must convene the meeting by: (a) giving written notice of the meeting to as many of the company’s creditors as reasonably practicable; and (b) causing a notice setting out the prescribed information about the meeting to be published in the prescribed manner; at least 5 business days before the meeting. (3A) A notice under paragraph (3)(b) that relates to a company may be combined with a notice under paragraph 450A(1)(b) that relates to the company. (4) At the meeting, the company’s creditors may also pass a resolution: (a) removing the administrator from office; and (b) appointing someone else as administrator of the company.