Section 239K — Companies Act 1993: Appointment by secured creditor

239K Appointment by secured creditor (1) A person who holds a charge over the whole, or substantially the whole, of a company's property may appoint an administrator if the charge has become, and is still, enforceable. (2) The appointment must be in writing and must state the date of the appointment. (3) A secured creditor must not appoint an administrator if the company is already in liquidation. Compare: Corporations Act 2001 (Australia) s 436C Section 239K: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).