Eligible unsecured creditor
579Q Eligible unsecured creditor
Subject to subsection (2), for the purposes of the application of this Division to a group of 2 or more companies, a creditor of a company in the group is an eligible unsecured creditor of that company if:
both:
the creditor’s debt or claim is unsecured; and
the creditor is not a company in the group; or
the creditor is specified in the regulations.
For specification by class, see subsection 13(3) of the Legislation Act 2003.
The regulations may provide that, for the purposes of the application of this Division to a group of 2 or more companies, a specified creditor of a company in the group is not an eligible unsecured creditor of that company.
For specification by class, see subsection 13(3) of the Legislation Act 2003.
This provision refers to the regulations (specified in the regulations
, The regulations may provide
). Made under this Act:
- Corporations Regulations 2001 · under s 1364
84 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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