Section 239AU — Companies Act 1993: Notice of watershed meeting

239AU Notice of watershed meeting (1) The administrator must convene the watershed meeting by— (a) giving written notice of the meeting to as many of the company's creditors as reasonably practicable; and (b) advertising the meeting in accordance with section 3(1)(b) . (2) The administrator must take the steps in subsection (1) not less than 5 working days before the meeting. (3) The following documents must accompany the notice of the watershed meeting that is sent to the company's creditors: (a) a report by the administrator about— (i) the company's business, property, affairs, and financial circumstances; and (ii) any other matter material to the creditors' decisions to be considered at the meeting; and (b) a statement setting out the administrator's opinion, with reasons for that opinion, about each of the following matters: (i) whether it would be in the creditors' interests for the company to execute a deed of company arrangement: (ii) whether it would be in the creditors' interests for the administration to end: (iii) whether it would be in the creditors' interests for the company to be placed in liquidation; and (c) if a deed of company arrangement is proposed, a statement setting out the details of the proposed deed. Compare: Corporations Act 2001 (Australia) s 439A(3), (4) Section 239AU: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).