Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 579H

Variation of ancillary order

  (1)   The Court may, by order, vary an order made under subsection   579G(1) if the Court is of the opinion that it is just and equitable to do so.

  (2)   An order made under subsection   579G(1) may only be varied on the application of:

  (a)   the liquidator of a company in the group; or

  (b)   a creditor of a company in the group, so long as the creditor is not a company in the group; or

  (c)   in a case where a company in the group is being wound up under a members' voluntary winding up--a member of the company, so long as the member is not a company in the group.

Variation of direction

  (3)   The Court may vary a direction given under subsection   579G(1) if the Court is of the opinion that it is just and equitable to do so.

  (4)   A direction given under subsection   579G(1) may only be varied on the application of:

  (a)   the liquidator of a company in the group; or

  (b)   a creditor of a company in the group; or

  (c)   in a case where a company in the group is being wound up under a members' voluntary winding up--a member of the company, so long as the member is not a company in the group.

Lodgment of order or direction

  (5)   An order under subsection   (1) must be lodged with ASIC.

  (6)   A variation of a direction given under subsection   579G(1) must be lodged with ASIC.