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CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.6 - WINDING UP GENERALLY  

Division 8 - Pooling    View history reference

Subdivision B - Pooling orders    View history reference

SECTION 579K  NOTICE OF POOLING ORDER ETC.  

 View history reference

579K(1)  Notice of pooling order.  


If a pooling order is made in relation to a group of 2 or more companies, the liquidator or liquidators of the companies in the group must:


(a) give each eligible unsecured creditor of each company in the group a written notice setting out:


(i) the order; and

(ii) a summary description of the order; or


(b) give each eligible unsecured creditor of each company in the group a written notice of a website where persons can view a copy of:

(i) the order; and

(ii) a summary description of the order.
 View history reference

Note 1: For eligible unsecured creditor, see section 579Q.

Note 2: For electronic notification under this subsection, see section 600G.

579K(2)  [Notice where group company under members voluntary winding up]  


If:


(a) a pooling order is made in relation to a group of 2 or more companies; and


(b) a company in the group is being wound up under a members' voluntary winding up;

the liquidator or liquidators of the companies in the group must:


(c) give each member of that company a written notice setting out:


(i) the order; and

(ii) a summary description of the order;
so long as the member is not a company in the group; or


(d) give each member of that company a written notice of a website where persons can view a copy of:

(i) the order; and

(ii) a summary description of the order;
so long as the member is not a company in the group.
 View history reference

Note: For electronic notification under this subsection, see section 600G.

579K(3)  Notice of application by liquidator.  


If:


(a) a pooling order is made in relation to a group of 2 or more companies; and


(b) the Court does any of the following on the application of a liquidator of a company in the group:


(i) makes an order under subsection 579F(1);

(ii) makes an order under subsection 579G(1);

(iii) makes an order under subsection 579H(1);

(iv) gives a direction under subsection 579G(1);

(v) varies a direction given under subsection 579G(1);

the liquidator must:


(c) give each eligible unsecured creditor of each company in the group a written notice setting out:


(i) the order, direction or variation; and

(ii) a summary description of the order, direction or variation; or


(d) give each eligible unsecured creditor of each company in the group a written notice of a website where persons can view a copy of:

(i) the order, direction or variation; and

(ii) a summary description of the order, direction or variation.
 View history reference

Note 1: For eligible unsecured creditor, see section 579Q.

Note 2: For electronic notification under this subsection, see section 600G.

579K(4)  [Notice of application for other orders]  


If:


(a) a pooling order is made in relation to a group of 2 or more companies; and


(b) the Court does any of the following on the application of a liquidator of a company in the group:


(i) makes an order under subsection 579F(1);

(ii) makes an order under subsection 579G(1);

(iii) makes an order under subsection 579H(1);

(iv) gives a direction under subsection 579G(1);

(v) varies a direction given under subsection 579G(1); and


(c) a company in the group is being wound up under a members' voluntary winding up;

the liquidator must:


(d) give each member of that company a written notice setting out:


(i) the order, direction or variation; and

(ii) a summary description of the order, direction or variation;
so long as the member is not a company in the group; or


(e) give each member of that company a written notice of a website where persons can view a copy of:

(i) the order, direction or variation; and

(ii) a summary description of the order, direction or variation;
so long as the member is not a company in the group.
 View history reference

Note: For electronic notification under this subsection, see section 600G.


 



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