Section 239I — Companies Act 1993: Appointment by company

239I Appointment by company (1) A company may appoint an administrator if the board of the company has resolved that,— (a) in the opinion of the directors voting for the resolution, the company is insolvent or may become insolvent; and (b) an administrator of the company should be appointed. (2) The appointment must be in writing and must state the date of the appointment. (3) The company must not appoint an administrator if the company is already in liquidation. (4) If an application has been filed for the appointment of a liquidator of the company by the Court under section 241(2)(c) , the company may only appoint an administrator if the administrator is appointed within 10 working days after service on the company of the application. (5) Subsection (4) does not apply once the application has been finally disposed of. Compare: Corporations Act 2001 (Australia) s 436A Section 239I: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).