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CORPORATIONS REGULATIONS 2001 2001 No. 193 - REG 5.6.48
Notice to creditors to submit formal proof
- (1)
- A liquidator may from time to time fix a day, not less than 14 days after
the day on which notice is given in accordance with subregulation (2), on or
before which creditors of the company whose debts or claims have not been
admitted are formally to prove their debts or claims.
- (2)
- A liquidator must
give notice in writing of the day fixed under subregulation (1):
- (a)
- by
advertising the day, in each State, Territory and excluded Territory in which
the company carried on business at any time during the 2 years immediately
preceding the relevant date, in a daily newspaper circulating generally in the
State, Territory or excluded Territory; and
- (b)
- to every person who, to the knowledge of the liquidator, claims to be a
creditor of the company, and whose debt or claim has not been admitted.
- (3)
- An advertisement mentioned in subregulation (2) must be in accordance with
Form 534.
- (4)
- A creditor of the company who fails to comply with a requirement of a
liquidator under subregulation (1) is excluded:
- (a)
- from the benefit of a
distribution made before his or her debt or claim is admitted; and
- (b)
- from objecting to that distribution.
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