correct iceman...
CORPORATIONS ACT 2001 - SECT 436A
Company may appoint administrator if board thinks it is or will become insolvent
(1) A company may, by writing, appoint an administrator of the company if the board has resolved to the effect that:
(a) in the opinion of the directors voting for the resolution, the company is insolvent, or is likely to become insolvent at some future time; and
(b) an administrator of the company should be appointed.
emphasis on will become
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correct iceman...CORPORATIONS ACT 2001 - SECT 436ACompany may...
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STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
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