Corporations Regulations 2001
View history note
Hide history noteThis regulation is made for the purposes of paragraph 500AE(3)(b) of the Act.
5.5.04(2)
An unfair preference of a company is not voidable despite subsection 588FE(2) of the Act, provided either subregulation (3) or (4) is satisfied.
5.5.04(3)
This subregulation is satisfied if: (a) the company is subject to the simplified liquidation process; and (b) the transaction was entered into, or an act was done for the purposes of giving effect to it, before the day that is 3 months before the relation-back day; and (c) no creditor under the transaction is a related entity of the company.
5.5.04(4)
This subregulation is satisfied if: (a) the company is subject to the simplified liquidation process; and (b) the transaction was entered into, or an act was done for the purposes of giving effect to it:
(i) during the 3 months ending on the relation-back day; or
(c) either:
(ii) after that day but on or before the day when the winding up began; and
(i) the transaction results in the creditor receiving from the company no more than $30,000 in value; or
(d) no creditor under the transaction is a related entity of the company.
(ii) if the transaction forms part of a series of related transactions, all of the related transactions result in the creditor receiving from the company no more than $30,000 in value; and
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
