5.6.67
CurrentDeclaration and distribution of dividend
Chapter 5External administration
Part 5.6Winding up generally
5.6.67 Declaration and distribution of dividend
(1)
The liquidator must, as soon as practicable, declare and distribute a dividend among the creditors whose debts or claims have been admitted.
(2)
The liquidator must distribute as dividend all money in hand except enough:
(a)
to meet the costs of administration; or
(b)
to give effect to the provisions of the Act.
(3)
If the liquidator declares a dividend, he or she must send a notice of that declaration, in accordance with Form 549, to every person entitled to receive payment of the dividend.
This Act’s bill:Explanatory statement
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