Commonwealth Consolidated Regulations

CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) REGULATIONS 2017 - REG 7

Written objection--information

  (1)   For the purposes of paragraph   29 - 18(3)(a) of the Act, the information that must be contained in a written objection is:

  (a)   the name of the person (the creditor ) claiming to be a substantial creditor of an amalgamating corporation; and

  (b)   the name of the amalgamating corporation; and

  (c)   a statement, signed by the creditor, that:

  (i)   the amalgamating corporation owes a debt, or debts, to the creditor; and

  (ii)   the amount of that debt, or the sum of the amounts of those debts, that is unsecured exceeds the amount mentioned in subsection   (2); and

  (iii)   the creditor objects to the grant of the application made under section   23 - 1 of the Act.

Note:   It is an offence to provide a false or misleading statement to the Registrar: see section   561 - 1 of the Act.

Substantial creditor--amount of debt

  (2)   For the purposes of subsection   29 - 18(5) of the Act, the amount is $2,000.

Note:   Under subparagraph   29 - 18(5)(a)(ii) of the Act, a person is a substantial creditor of an amalgamating corporation if the amount of a debt, or the sum of the amounts of debts, that is unsecured exceeds the prescribed amount.