Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 878

878. (1) An order made under section 877 may include directions to the person
to whom the money is paid directing that the person:

   (a)  shall pay the money into a separate trust account;

   (b)  is authorised to prepare a scheme for distributing the money to
        persons who claim, within 6 months after the person receives the
        money, to be entitled to the money and satisfy the person that they
        are so entitled; or

   (c)  where the money received is insufficient to pay all proved claims,
        may, notwithstanding any rule of law or equity to the contrary,
        apportion the money among the claimants in proportion to their proved
        claims and show in the scheme how the money is so apportioned.

(2) Where a person prepares a scheme for a distribution of money under
subsection (1), the person shall apply to the Court for approval of the scheme
and for directions in respect of it.

(3) The Court may give such directions as to the money held in a separate
trust account under subsection (1), as to the persons to whom and in what
amounts the whole or any portion of that money shall be paid, and as to the
payment of the balance of the money (if any) remaining in the account, as the
Court thinks fit.