Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) 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:
(a) in the prescribed form (if any); and
(b) in accordance with subregulation 5.6.75(4).
Note: Failure to comply with this subregulation is an offence: see subsection 1311(1) of the Act.
(2) 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:
(a) the fact that the restructuring practitioner has been appointed in relation to the company;
(b) the name of the company;
(c) any trading name of the company;
(d) the ACN of the company;
(e) the name and contact details of the restructuring practitioner;
(f) the date on which the restructuring practitioner was appointed;
(g) the restructuring process and the process of making a restructuring plan, including:
(i) the proposal period in relation to the company; and
(ii) the amount of time in which an affected creditor may decide whether a proposed restructuring plan should be accepted; and
(iii) how an affected creditor may verify or dispute the creditor's admissible debts or claims;
(h) how a person may obtain further information about the restructuring process and the process of making a restructuring plan;
(i) the right of creditors to request information, reports and documents under sections 70 - 40 and 70 - 45 of Schedule 2 to the Act.
Note: Failure to comply with this subregulation is an offence: see subsection 1311(1) of the Act.