Commonwealth Consolidated Regulations

CORPORATIONS REGULATIONS 2001 - REG 5.6.23A

         (1)   For this Part, a person by whom money is advanced to a company as described in section 560 of the Act is entitled to one vote at a meeting of creditors.

         (2)   Subregulation (1) applies whether the person has advanced money to the company:

                (a)    on 1 occasion only; or

               (b)    on more than 1 occasion in respect of the same matter; or

                (c)    on 1 or more occasions in respect of more than 1 matter.

Note    Paragraph 560 (c) of the Act provides that a person by whom money is advanced to a company in specified circumstances has the same rights as a creditor of the company in relation to matters set out in Chapter 5 of the Act. This includes voting at a meeting of creditors of the company.