Document ID: chunk:federal_register_of_legislation:C2016A00011:schedule:2:p52
Version: federal_register_of_legislation:C2016A00011
Segment Type: schedule
Provision Reference: sch 2 (pt 52/71)
Character Range: 352951–355592

entity, and a creditor, of the company.

75‑42  Creditors' resolution passed because of casting vote—Court review

Application of this section
 (1) This section applies if:
 (a) a resolution is passed at a meeting of creditors of a company under external administration; and
 (b) the resolution is passed because the person presiding at the meeting exercises a casting vote.

Application to the Court
 (2) ASIC may apply to the Court for an order setting aside or varying the resolution.
 (3) A person (other than ASIC) may apply to the Court for an order setting aside or varying the resolution, but only if:
 (a) the person voted against the resolution in some capacity (even if the person voted for the resolution in another capacity); or
 (b) a person voted against the resolution on the first‑mentioned person's behalf.

Court may make orders
 (4) On application under subsection (2) or (3), the Court may:
 (a) by order set aside or vary the resolution; and
 (b) if it does so—make such further orders, and give such directions, as it thinks fit.
 (5) On and after the making of an order varying the resolution, the resolution has effect as varied by the order.

75‑43  Proposed creditors' resolution not passed because of casting vote—Court's powers

Application of this section
 (1) This section applies if:
 (a) a resolution is not passed at a meeting of creditors of a company under external administration; and
 (b) the resolution is not passed because the person presiding at the meeting exercises a casting vote, or refuses or fails to exercise such a vote.

Application to the Court
 (2) ASIC may apply to the Court for an order under subsection (4).
 (3) A person (other than ASIC) may apply to the Court for an order under subsection (4), but only if:
 (a) the person voted for the proposed resolution in some capacity (even if the person voted against the proposed resolution in another capacity); or
 (b) a person voted for the proposed resolution on the first‑mentioned person's behalf.

Court may make orders
 (4) On application under subsection (2) or (3), the Court may:
 (a) order that the proposed resolution is taken to have been passed at the meeting; and
 (b) if it does so—make such further orders, and give such directions, as it thinks fit.
 (5) If an order is made under paragraph (4)(a), the proposed resolution:
 (a) is taken for all purposes (other than those of subsection (1)) to have been passed at the meeting; and
 (b) is taken to have taken effect:
 (i) if the order specifies a time when the proposed resolution is taken to have taken effect—at that time, even if it is earlier than the making of the