Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to subsection (2), for the purposes of the application of this Division to a group of 2 or more companies, a creditor of a company in the group is an eligible unsecured creditor of that company if:
(a) both:
(i) the creditor's debt or claim is unsecured; and
(ii) the creditor is not a company in the group; or
(b) the creditor is specified in the regulations.
Note: For specification by class, see subsection 13(3) of the Legislation Act 2003 .
(2) The regulations may provide that, for the purposes of the application of this Division to a group of 2 or more companies, a specified creditor of a company in the group is not an eligible unsecured creditor of that company.
Note: For specification by class, see subsection 13(3) of the Legislation Act 2003 .