Corporations Regulations 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.6 - WINDING UP GENERALLY  

REGULATION 5.6.65   LIQUIDATOR TO GIVE NOTICE OF INTENTION TO DECLARE A DIVIDEND  

5.6.65(1)    

Subject to subregulation (1A) , the liquidator must give notice of his or her intention to declare a dividend not more than 2 months before the intended date:

(a)    

by lodging a notice with ASIC in accordance with subregulation 5.6.75(4) ; and

(b)    

in writing, in accordance with Form 547 or, for a final dividend, in accordance with Form 548 , to any person whose debt or claim has not been admitted and who:

(i) for a winding up by the Court - is shown as a creditor in the report on the affairs of the company under subsection 475(1) of the Act; or

(ii) for a members ' voluntary winding up - appears in the company ' s records to be a creditor; or

(iii) for a creditors ' voluntary winding up - is shown as a creditor in the list of creditors prepared in accordance with subparagraph 497(1)(a)(ii) of the Act; or

(iv) to the knowledge of the liquidator claims to be, or might claim to be, a creditor of the company.

5.6.65(1A)    

The requirement in subregulation (1) that the notice must be given not more than 2 months before the intended date does not apply in relation to a liquidator of a company that is subject to the simplified liquidation process.

5.6.65(2)    
A notice in accordance with subregulation (1) must specify a date, not less than 21 days after the date of the notice, on or before which formal proof, in accordance with Form 535 or 536 , of a debt or claim must be submitted to participate in the distribution.

5.6.65(2A)    

Also, the notice must state at least the following information:

(a)    the name of the company;

(b)    any trading name of the company;

(c)    the ACN of the company;

(d)    

if Division 1 of Part 5.6 of the Act applies for a sub-fund of a CCIV because of section 1237B of the Act - the ARFN of the sub-fund.

5.6.65(3)    
Subject to regulation 5.6.68 , a person:

(a)    who claims to be a creditor; and

(b)    who does not submit a formal proof of a debt or claim on or before the date specified in the notice given under subregulation (1) ;

is excluded from participating in the distribution to which that notice relates.

Note: If Division 1 of Part 5.6 of the Act applies for a sub-fund of a CCIV because of section 1237B of the Act, that section translates most of this regulation ' s references to the company so that they are references to the sub-fund.