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CORPORATIONS ACT 2001 - SECT 579Q

Eligible unsecured creditor

             (1)  Subject to subsection (2), for the purposes of the application of this Division to a group of 2 or more companies, a creditor of a company in the group is an eligible unsecured creditor of that company if:

                     (a)  both:

                              (i)  the creditor's debt or claim is unsecured; and

                             (ii)  the creditor is not a company in the group; or

                     (b)  the creditor is specified in the regulations.

Note:          For specification by class, see subsection 13(3) of the Legislation Act 2003 .

             (2)  The regulations may provide that, for the purposes of the application of this Division to a group of 2 or more companies, a specified creditor of a company in the group is not an eligible unsecured creditor of that company.

Note:          For specification by class, see subsection 13(3) of the Legislation Act 2003 .



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