CORPORATIONS REGULATIONS 2001 - REG 5.6.67 Declaration and distribution of dividend

CORPORATIONS REGULATIONS 2001 - REG 5.6.67

  (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.