Corporations Amendment (Corporate Insolvency Reforms) Regulations 2020 (F2020L01654)

Schedule 3   Simplified liquidation

Corporations Regulations 2001

19   After regulation 5.6.67

Insert:

5.6.67A Single declaration and distribution of dividend for companies in simplified liquidation

The liquidator of a company that is subject to the simplified liquidation process may declare and distribute a dividend only once among creditors whose debts or claims have been admitted.