Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 5.6.53

Time for liquidator to deal with proofs

             (1)   A liquidator must, within:

                     (a)  28 days after receiving a request in writing from a creditor to do so; or

                     (b)  if ASIC allows--any further period;

in writing:

                     (c)  admit all or part of the formal proof of debt or claim submitted by the creditor; or

                     (d)  reject all or part of the formal proof of debt or claim; or

                     (e)  require further evidence in support of it.

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 subregulation by the nominated electronic means.

             (2)   If the liquidator does not deal with a request under subregulation (1) in accordance with that subregulation, the creditor who submitted the proof may apply to the Court for a decision in respect of it.

             (3)   If the liquidator gives notice in writing to a creditor that further evidence is required in support of the formal proof of debt or claim submitted by the creditor under subregulation (1), the period mentioned in that subregulation is taken not to have begun to run until the day on which the liquidator receives a sufficient written answer to his or her notice.



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