Commonwealth Consolidated Acts

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BANKRUPTCY ACT 1966 - SECT 304

Parts of dollar to be disregarded in determining majority in value of creditors etc.

                   In determining for the purposes of this Act whether a majority in value of creditors, or a particular proportion in value of creditors, has passed a resolution or done any other act or thing, if a creditor's debt consists of a number of whole dollars and a part of a dollar, the part of the dollar shall be disregarded.


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