Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p51
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 51/60)
Character Range: 310018–312505

for that rejection in accordance with Form 537; and
 (b) give notice to the creditor at the same time:
 (i) that the creditor may appeal to the Court against the rejection within the time specified in the notice, being not less than 14 days after service of the notice, or such further period as the Court allows; and
 (ii) that unless the creditor appeals in accordance with subparagraph (i), the amount of his or her debt or claim will be assessed in accordance with the liquidator's endorsement on the creditor's proof.
 (2) A person may appeal against the rejection of a formal proof of debt or claim within:
 (a) the time specified in the notice of the grounds of rejection; or
 (b) if the Court allows—any further period.
 (3) The Court may extend the time for filing an appeal under subregulation (2), even if the period specified in the notice has expired.
 (4) If the liquidator has admitted a formal proof of debt or claim, the notice of dividend is sufficient notice of the admission.

5.6.55  Revocation or amendment of decision of liquidator
 (1) If the liquidator considers that a proof of debt or claim has been wrongly admitted, the liquidator may:
 (a) revoke the decision to admit the proof and reject all of it; or
 (b) amend the decision to admit the proof by increasing or reducing the amount of the admitted debt or claim.
 (2) If the liquidator considers that all of a proof of debt or claim has been wrongly rejected, the liquidator may:
 (a) revoke the decision to reject the proof of debt or claim; and
 (b) admit all of the proof or admit part of it and reject part of it.
 (3) If the liquidator:
 (a) revokes a decision to admit a proof of debt or claim and rejects all of it; or
 (b) amends that decision by reducing the amount of the admitted debt or claim;
the liquidator must inform the creditor by whom it was lodged, in writing, of his or her grounds for the revocation or amendment.
 (4) If the liquidator revokes a decision to admit a proof of debt or claim and rejects all of it, or amends that decision by reducing the amount of the admitted debt or claim, the creditor must at once repay to the liquidator:
 (a) the amount received as dividend for the proof; or
 (b) the amount received as dividend that exceeds the amount that the creditor would have been entitled to receive if his or her debt or claim had been originally admitted for the reduced amount.
 (5) If the liquidator:
 (a) revokes a decision to reject all of a proof of debt or claim;