INITIAL PROCEDURE FOR ADMINISTRATION

READ IN CONJUNCTION WITH CHECKLIST

RE: ____________________________ PTY LTD (ADMINISTRATORS APPOINTED) – A.C.N________________

MINUTES OF DIRECTORS MEETING APPOINTING ADMINISTRATOR

NOTICE OF APPOINTMENT OF ADMINISTRATOR

FORM 505 TO BE LODGED BY END OF NEXT BUSINESS DAY AFTER APPOINTMENT

GIVE WRITEEN NOTICE TO EACH PERSON WHO HOLDS A CHARGE (COPY OF CIRCULAR)

GIVE WRITTEN NOTICE TO COMPANY

LETTER TO DIRECTORS RE RATA

COLLECT COMPANY SEAL, SEC VOLUME, CHEQUE/DEPOSIT BOOKS, EMPLOYEE RECORDS

INSURE ASSETS

LETTER TO BANK

SET UP APPROPRIATE ADMIN FILES, SOL 6 AND MR DOCS, INCLUDE 000 DOC

FIRST MEETING

BY END OF THIRD BUSINESS DAY – PUBLISH NOTICE OF APPOINTMENT IN NEWSPAPER – COMBINE

WITH NOTICE OF MEETING

GIVE WRITTEN NOTICE OF FIRST MEETING OF CREDITORS TO AS MANY CREDITORS AS PRACTICABLE

– FORM 529A – MINIMUM 2 DAYS NOTICE

BY END OF 8TH BUSINESS DAY AFTER APPOINTMENT

ADMINISTRATOR MUST HAVE CONVENED AND HELDD FIRST MEETING OF CREDITORS – SECTION 436E
(2)

LODGE COPY OF MINUTES WITHIN 10 BUSINESS DAYS WITH ASIC

SECOND MEETING

CONVENING PERIOD – 21 DAYS (NOT BUSINESS DAYS) INCLUDING DATE OF APPOINTMENT FROM
DATE OF ADMINISTRATION (OR IF DECEMBER – 28 DAYS)

MEETING TO BE HELD FIVE DAYS (BUSINESS DAYS) AFTER END OF CONVENING PERIOD

NOTICE TO BE GIVEN TO CREDITORS FIVE (5) BUSINESS DAYS (TO BE RECEIVED BY CREDITORS)
INCLUDES:
NOTICE OF MEETING, PROXY FORM, PARTICULARS OF DEBT FORM
REPORT BY ADMINISTRATOR
PROPOSAL FOR DEED OF COMPANY ARRANGEMENT (IF ONE AVAILABLE)

ADVERTISE IN PAPER AT LEAST 5 BUSINESS DAYS BEFORE MEETING – S439A (2)

IF COMPANY WOUND UP, LODGE CEASING TO ACT 505 FOR ADMIN AND 509D FOR LIQUIDATION

CHECK DRAFT DOCA EXCLUDES SCHEDULE 8A