THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.6 - WINDING UP GENERALLY

Division 6 - Proof and ranking of claims

Subdivision C - Special provisions relating to secured creditors of insolvent companies

SECTION 554D   APPLICATION OF SUBDIVISION  

554D(1)  [Subdiv C applies to proof of secured debt]  

This Subdivision applies in relation to the proof of a secured debt in the winding up of an insolvent company.

554D(2)  [Amount of debt calculated as at relevant date]  

For the purposes of the application of this Subdivision in relation to a secured debt of an insolvent company that is being wound up, the amount of the debt is taken to be the amount of the debt as at the relevant date (as worked out in accordance with Subdivision B).