Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

CORPORATIONS ACT 2001 - SECT 579K

Notice of pooling order etc.

Notice of pooling order

             (1)  If a pooling order is made in relation to a group of 2 or more companies, the liquidator or liquidators of the companies in the group must:

                     (a)  give each eligible unsecured creditor of each company in the group a written notice setting out:

                              (i)  the order; and

                             (ii)  a summary description of the order; or

                     (b)  give each eligible unsecured creditor of each company in the group a written notice of a website where persons can view a copy of:

                              (i)  the order; and

                             (ii)  a summary description of the order.

Note 1:       For eligible unsecured creditor , see section 579Q.

Note 2:       For electronic notification under this subsection, see section 600G.

             (2)  If:

                     (a)  a pooling order is made in relation to a group of 2 or more companies; and

                     (b)  a company in the group is being wound up under a members' voluntary winding up;

the liquidator or liquidators of the companies in the group must:

                     (c)  give each member of that company a written notice setting out:

                              (i)  the order; and

                             (ii)  a summary description of the order;

                            so long as the member is not a company in the group; or

                     (d)  give each member of that company a written notice of a website where persons can view a copy of:

                              (i)  the order; and

                             (ii)  a summary description of the order;

                            so long as the member is not a company in the group.

Note:          For electronic notification under this subsection, see section 600G.

Notice of application by liquidator

             (3)  If:

                     (a)  a pooling order is made in relation to a group of 2 or more companies; and

                     (b)  the Court does any of the following on the application of a liquidator of a company in the group:

                              (i)  makes an order under subsection 579F(1);

                             (ii)  makes an order under subsection 579G(1);

                            (iii)  makes an order under subsection 579H(1);

                            (iv)  gives a direction under subsection 579G(1);

                             (v)  varies a direction given under subsection 579G(1);

the liquidator must:

                     (c)  give each eligible unsecured creditor of each company in the group a written notice setting out:

                              (i)  the order, direction or variation; and

                             (ii)  a summary description of the order, direction or variation; or

                     (d)  give each eligible unsecured creditor of each company in the group a written notice of a website where persons can view a copy of:

                              (i)  the order, direction or variation; and

                             (ii)  a summary description of the order, direction or variation.

Note 1:       For eligible unsecured creditor , see section 579Q.

Note 2:       For electronic notification under this subsection, see section 600G.

             (4)  If:

                     (a)  a pooling order is made in relation to a group of 2 or more companies; and

                     (b)  the Court does any of the following on the application of a liquidator of a company in the group:

                              (i)  makes an order under subsection 579F(1);

                             (ii)  makes an order under subsection 579G(1);

                            (iii)  makes an order under subsection 579H(1);

                            (iv)  gives a direction under subsection 579G(1);

                             (v)  varies a direction given under subsection 579G(1); and

                     (c)  a company in the group is being wound up under a members' voluntary winding up;

the liquidator must:

                     (d)  give each member of that company a written notice setting out:

                              (i)  the order, direction or variation; and

                             (ii)  a summary description of the order, direction or variation;

                            so long as the member is not a company in the group; or

                     (e)  give each member of that company a written notice of a website where persons can view a copy of:

                              (i)  the order, direction or variation; and

                             (ii)  a summary description of the order, direction or variation;

                            so long as the member is not a company in the group.

Note:          For electronic notification under this subsection, see section 600G.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback