THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW

THE CORPORATIONS LAW   82 

The Corporations Law is as follows:...

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.6 - WINDING UP GENERALLY

Division 6 - Proof and ranking of claims

Subdivision C - Special provisions relating to secured creditors of insolvent companies

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History

Heading inserted by No 210 of 1992, s 94 (effective 23 June 1993).

SECTION 554D   APPLICATION OF SUBDIVISION  

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554D(1)  [Subdiv C applies to proof of secured debt]  

This Subdivision applies in relation to the proof of a secured debt in the winding up of an insolvent company.

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History

S 554D(1) inserted by No 210 of 1992, s 94 (effective 23 June 1993).

CCH Note: See s 1382-1383.

554D(2)  [Amount of debt calculated as at relevant date]  

For the purposes of the application of this Subdivision in relation to a secured debt of an insolvent company that is being wound up, the amount of the debt is taken to be the amount of the debt as at the relevant date (as worked out in accordance with Subdivision B).

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History

S 554D(2) inserted by No 210 of 1992, s 94 (effective 23 June 1993).

CCH Note: See s 1382-1383.

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