Appointment of 2 or more restructuring practitioners of company
456M Appointment of 2 or more restructuring practitioners of company
Where a provision of this Act provides for a small business restructuring practitioner for a company to be appointed, 2 or more persons may be appointed as small business restructuring practitioners of the company.
Where, because of subsection (1), there are 2 or more small business restructuring practitioners of a company:
a function, duty or power of a restructuring practitioner for the company may be performed or exercised by any one of them, or by any 2 or more of them together, except so far as the instrument appointing them otherwise provides; and
a reference in this Act to a restructuring practitioner, or to the restructuring practitioner, of a company is, in the case of the first‑mentioned company, a reference to whichever one or more of those restructuring practitioners the case requires.
This Act’s bill:Explanatory memorandumSecond reading speech
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