Section 239T — Companies Act 1993: Creditors must consider appointment of replacement administrator

239T Creditors must consider appointment of replacement administrator (1) A replacement administrator, unless appointed by the Court or by the creditors under section 239R(1)(b) , must convene a meeting of the creditors at which the creditors may vote to remove the replacement administrator and appoint another person in his or her place. (2) The meeting must be held not more than 5 working days after the date on which the replacement administrator is appointed. (3) The replacement 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) advertising the meeting in accordance with section 3(1)(b) . (4) The replacement administrator must take the steps in subsection (3) not less than 2 working days before the meeting. Compare: Corporations Act 2001 (Australia) s 449C(4), (5) Section 239T: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).