Commonwealth Numbered Acts
[Search this Act]
CORPORATIONS ACT 2001 No. 50, 2001 - SECT 554G
Amendment of valuation
(1) If a secured creditor's proof of debt is in respect of the balance due
after deducting the creditor's estimate of the value of the security, the
creditor may, at any time, apply to the liquidator or the Court for permission
to amend the proof of debt by altering the estimated value.
(2) If the liquidator or the Court is satisfied:
- that the estimate of
the value of the security was made in good faith on a mistaken basis; or
- that the value of the security has changed since the estimate was made;
the liquidator or the Court may permit the creditor to amend the proof of debt
(3) If the Court permits the creditor to amend the proof of debt, it may do so
on such terms as it thinks just and equitable.
AustLII: Copyright Policy