A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.6 - WINDING UP GENERALLY  

Division 6 - Proof and ranking of claims  

Subdivision C - Special provisions relating to secured creditors of insolvent companies  

SECTION 554J  

554J  SUBSEQUENT REALISATION OF SECURITY INTEREST  

 View history reference

Where:


(a) 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 interest; and


(b) subsequently:


(i) the creditor realises the security interest; or

(ii) the security interest is realised under section 554F;

the net amount realised is to be substituted for the estimated value of the security interest and section 554H applies as if the proof of debt had been amended accordingly under section 554G.


 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page