Corporations Regulations 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3B - RESTRUCTURING OF A COMPANY  

Division 1 - Preliminary  

REGULATION 5.3B.01  

5.3B.01   DEFINITIONS  

In this Part, unless the contrary intention appears:

accepted
, in relation to a proposal to make a restructuring plan, has the meaning given by subregulation 5.3B.25(1) .

admissible debt or claim
, in relation to a company under restructuring or a company ' s restructuring plan, means a debt or claim that would be admissible to proof against the company under subsection 553(1) of the Act if:

(a) the company were wound up; and

(b) the relevant date were:

(i) if the company is under restructuring - the beginning of the restructuring; and

(ii) if the company has made a restructuring plan - the beginning of the restructuring that ended when the plan was made;

but does not include:

(c) the entitlements of an employee of the company; or

(d) a debt or claim that would be admissible to proof under subsection 553(1A) of the Act.

Note: Employee entitlements are defined in subsections 596AA(2) and (3) of the Act and include superannuation contributions payable by the company.

affected creditor
means:

(a) in relation to a proposal to vary or terminate a company ' s restructuring plan - a creditor of the company who is a party (as creditor) to the plan; or

(b) in relation to a proposal by a company to make a restructuring plan - a person who would be a party to the restructuring plan if it were made.

excluded creditor
, in relation to a company under restructuring, means a creditor of the company who:

(a) is the restructuring practitioner for the company; or

(b) was, at the time the restructuring began, a related creditor of the company; or

(c) was, on becoming an affected creditor, a related entity of the restructuring practitioner.

make
, in relation to a restructuring plan, has the meaning given by regulation 5.3B.26 .

proposal period
, in relation to a company under restructuring, has the meaning given by regulation 5.3B.17 .

propose
, in relation to a restructuring plan, has the meaning given by regulation 5.3B.14 .

related creditor
of a company means a person who is a related entity, and a creditor, of the company.

restructuring proposal statement
means a statement made by a company under regulation 5.3B.16 .