Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.6 - WINDING UP GENERALLY  

Note: This Part applies to a sub-fund of a CCIV in a modified form: see Division 5 of Part 8B.6 .

Division 8 - Pooling  

Subdivision B - Pooling orders  

SECTION 579K   NOTICE OF POOLING ORDER ETC.  

Notice of pooling order

579K(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 .

579K(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

579K(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 .

579K(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.