Section 1587 — Corporations Act 2001 (Cth)

Administration account

If, immediately before the commencement day, a person has a liquidator’s general account in relation to the external administration of:

(a) a company; or

(b) a company in a pooled group;

the account is taken on and after the commencement day to be an administration account for the company for the purposes of section 65‑5 of the Insolvency Practice Schedule (Corporations).

Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.

Related sections

s 1584 — Application of new provisions about vacancies of court‑appointed liquidator
s 1585 — Application of new provisions about exercise of powers while company under external administration
s 1586 — Application of Division 65 of the Insolvency Practice Schedule (Corporations)—general rule
s 1588 — Paying money into administration account
s 1589 — Paying money out of administration account
s 1590 — Handling securities

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