Commonwealth Consolidated Regulations

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Liquidator to give notice of intention to declare a dividend

             (1)   The liquidator must give notice of his or her intention to declare a dividend not more than 2 months before the intended date:

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

                     (b)  in writing, in accordance with Form 547 or, for a final dividend, in accordance with Form 548, to any person whose debt or claim has not been admitted and who:

                              (i)  for a winding up by the Court--is shown as a creditor in the report on the affairs of the company under subsection 475(1) of the Act; or

                             (ii)  for a members' voluntary winding up--appears in the company's records to be a creditor; or

                            (iii)  for a creditors' voluntary winding up--is shown as a creditor in the list of creditors prepared in accordance with subparagraph 497(1)(a)(ii) of the Act; or

                            (iv)  to the knowledge of the liquidator claims to be, or might claim to be, a creditor of the company.

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.

             (2)   A notice in accordance with subregulation (1) must specify a date, not less than 21 days after the date of the notice, on or before which formal proof, in accordance with Form 535 or 536, of a debt or claim must be submitted to participate in the distribution.

          (2A)  Also, 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.

             (3)   Subject to regulation 5.6.68, a person:

                     (a)  who claims to be a creditor; and

                     (b)  who does not submit a formal proof of a debt or claim on or before the date specified in the notice given under subregulation (1);

is excluded from participating in the distribution to which that notice relates.

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