THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.6 - WINDING UP GENERALLY

Division 4 - General

SECTION 547   MEETINGS TO ASCERTAIN WISHES OF CREDITORS OR CONTRIBUTORIES  

547(1)  [Court may order meeting]  

The Court may, as to all matters relating to the winding up of a company, have regard to the wishes of the creditors or contributories as proved to it by any sufficient evidence and may, if it thinks fit for the purpose of ascertaining those wishes, direct meetings of the creditors or contributories to be convened, held and conducted in such manner as the Court directs, and may appoint a person to act as chairman of any such meeting and to report the result of the meeting to the Court.

547(2)  [Creditor's debt]  

In the case of creditors, regard shall be had to the value of each creditor's debt.

547(3)  [Votes of contributories]  

In the case of contributories, regard shall be had to the number of votes conferred on each contributory by this Law or the company's constitution.