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

Schedule 3   Simplified liquidation

Corporations Regulations 2001

12   After subregulation 5.6.48(1)

Insert:

Companies subject to the simplified liquidation process

(1A) Subregulation (1) does not apply in relation to a liquidator of a company that is subject to the simplified liquidation process.

Note: A notice given under subregulation 5.6.39(1B) may include a requirement that the creditors of a company that is subject to the simplified liquidation process must formally prove all or a specified class of debts or claims (see subregulation 5.6.39(4)).