Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If the Court orders the judicial management of a company, or of part of the business of a company, the Court must, by its order, appoint a judicial manager of the company, or of that part of the company's business, as the case requires.
(1A) If, subsequent to that order, a situation arises where there is no judicial manager of the company, or it appears to the Court that it is likely that such a situation will arise, the Court may appoint another judicial manager of the company.
(1B) If the Court appoints 2 or more judicial managers of a company, or appoints one or more additional judicial managers of a company:
(a) except to the extent (if any) specified in a declaration by the Court under paragraph (b), the functions and powers under this Act of a judicial manager of the company may be performed or exercised by:
(i) all of the judicial managers of the company acting jointly; or
(ii) each of the judicial managers of the company acting individually; and
(b) at the time of appointment, the Court may make a declaration for the purposes of paragraph (a), specifying limits or conditions on the judicial managers' ability to perform functions and exercise powers jointly or individually; and
(c) treat a reference in this Act to a judicial manager as being a reference to whichever one or more of those judicial managers the case requires.
(2) The Court may cancel the appointment of a judicial manager and appoint another person as judicial manager:
(a) on application by APRA; or
(b) of its own motion.
(3) APRA is entitled to be heard in proceedings before the Court for the cancellation of the appointment.