500AD
In forceWorking out whether the 25% in value of creditors test met
Volume 2Chapter 2L, Part 2L.1 to Chapter 5, Part 5.9 sections 283AA to 600K
Chapter 5External administration
Part 5.5Voluntary winding up
Division 3Creditors’ voluntary winding up
Subdivision BSimplified liquidation process for creditors’ voluntary winding up of an insolvent company
500AD Working out whether the 25% in value of creditors test met
For the purposes of paragraph 500A(2)(c):
(a)
the value of the creditors at a particular time is to be worked out by reference to the value of the creditors’ claims against the company that are known at that time; and
(b)
the regulations may prescribe creditors that are, or are not, to be taken into account.
Regulations
This provision refers to the regulations (the regulations may prescribe
). Made under this Act:
- Corporations Regulations 2001 · under s 1364
101 more instruments made under this Act are listed on the Act’s overview.
This Act’s bill:Explanatory memorandumSecond reading speech
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