THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.6 - WINDING UP GENERALLY

Division 6 - Proof and ranking of claims

Subdivision B - Computation of debts and claims

SECTION 554B   DISCOUNTING OF DEBTS PAYABLE AFTER RELEVANT DATE  

554B    The amount of a debt that is admissible to proof but that, as at the relevant date, was not payable by the company until an ascertained or ascertainable date ( ``the future date'' ) after the relevant date is the amount payable on the future date reduced by the amount of the discount worked out in accordance with the regulations.