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 5.7B - RECOVERING PROPERTY OR COMPENSATION FOR THE BENEFIT OF CREDITORS OF INSOLVENT COMPANY

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History

Pt 5.7B inserted by No 210 of 1992, s 111 (effective 23 June 1993).

CCH Note: See s 1383(7).

Division 4 - Director liable to compensate company

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Heading inserted by No 210 of 1992, s 111 (effective 23 June 1993).

Subdivision A - Proceedings against director

SECTION 588N   AVOIDING DOUBLE RECOVERY  

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588N    An amount recovered in proceedings under section 588M in relation to the incurring of a debt by a company is to be taken into account in working out the amount (if any) recoverable in:

(a)  any other proceedings under that section in relation to the incurring of the debt; and

(b)  proceedings under section 596AC in relation to a contravention of section 596AB that is linked to the incurring of the debt.

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History

S 588N substituted by Act No 78 of 2000, Sch 1(4) (effective 30 June 2000).

S 588N inserted by No 210 of 1992, s 111 (effective 23 June 1993).

[ CCH Note: See s 1383(7).]

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