Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024

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Amendment of section 558A of Principal Act

31. Section 558A of the Principal Act is amended, in subsection (1)(b), by the substitution of the following subparagraph for subparagraph (ii) in the definition of “rescue period”:

“(ii) where a person appointed as the process adviser of an eligible company ceases to act under paragraph (a), (b), (c) or (d) of section 558ZX(1) and the directors of the eligible company do not appoint another person to be a process adviser under that subsection, the date on which a notice delivered to the Registrar under paragraph (a) of section 558ZX(1A) is received by the Registrar;”.