CORPORATIONS ACT 2001 - SECT 579K Notice of pooling order etc.

CORPORATIONS ACT 2001 - SECT 579K

Notice of pooling order

  (1)   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.

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

  (2)   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.

Notice of application by liquidator

  (3)   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.

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

  (4)   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.