Commonwealth Numbered Regulations

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CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) REGULATIONS 2017 (F2017L01311) - REG 7

Registration--creditor notice requirement

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.



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