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CORPORATIONS REGULATIONS 2001 2001 No. 193 - REG 5.6.67
Declaration and distribution of dividend
- (1)
- The liquidator must, as soon as practicable, declare and distribute a
dividend among the creditors whose debts or claims have been admitted.
- (2)
- The liquidator must distribute as dividend all money in hand except enough:
- (a)
- to meet the costs of administration; or
- (b)
- to give effect to the provisions of the Act.
- (3)
- If the liquidator declares a dividend, he or she must send a notice of
that declaration, in accordance with Form 549, to every person entitled to
receive payment of the dividend.
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