Corporations Regulations 2001

Within 1 business day after the day on which a restructuring practitioner for a company is appointed, the restructuring practitioner must lodge with ASIC notice of the appointment:

in the prescribed form (if any); and

in accordance with subregulation 5.6.75(4).

Failure to comply with this subregulation is an offence: see subsection 1311(1) of the Act.

Within 1 business day after the day on which a restructuring practitioner for a company is appointed, the restructuring practitioner must give information about the following to as many of the company’s creditors as reasonably practicable:

the fact that the restructuring practitioner has been appointed in relation to the company;

the name of the company;

any trading name of the company;

the ACN of the company;

the name and contact details of the restructuring practitioner;

the date on which the restructuring practitioner was appointed;

the restructuring process and the process of making a restructuring plan, including:

the proposal period in relation to the company; and

the amount of time in which an affected creditor may decide whether a proposed restructuring plan should be accepted; and

how an affected creditor may verify or dispute the creditor’s admissible debts or claims;

how a person may obtain further information about the restructuring process and the process of making a restructuring plan;

the right of creditors to request information, reports and documents under sections 70‑40 and 70‑45 of Schedule 2 to the Act.

Failure to comply with this subregulation is an offence: see subsection 1311(1) of the Act.