Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 5.6.48

Notice to creditors to submit formal proof

             (1)   A liquidator may from time to time fix a day, not less than 14 days after the day on which notice is given in accordance with subregulation (2), on or before which creditors of the company whose debts or claims have not been admitted are formally to prove their debts or claims.

             (2)   A liquidator must give the notice:

                     (a)  by lodging the notice with ASIC in accordance with subregulation 5.6.75(4); and

                     (b)  to every person who, to the knowledge of the liquidator, claims to be a creditor of the company, and whose debt or claim has not been admitted.

Note:          The effect of regulation 5.6.11A is that if a recipient has, in accordance with that provision, nominated electronic means to receive notices, the notifier may give or send the notice mentioned in this paragraph by the nominated electronic means.

             (3)  The notice must state at least the following information:

                     (a)  the name of the company;

                     (b)  any trading name of the company;

                     (c)  the ACN of the company;

                     (d)  the day fixed under subregulation (1).

             (4)   A creditor of the company who fails to comply with a requirement of a liquidator under subregulation (1) is excluded:

                     (a)  from the benefit of a distribution made before his or her debt or claim is admitted; and

                     (b)  from objecting to that distribution.



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