Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p90
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 90/110)
Character Range: 380263–382990

(c)     an order requiring a person to pay to the company an amount that, in the Court's opinion, fairly represents some or all of the benefits that the person has received because of the transaction;

    (d)     an order requiring a person to transfer to the company property that, in the Court's opinion, fairly represents the application of either or both of the following:

      (i) money that the company has paid under the transaction;

      (ii) proceeds of property that the company has transferred under the transaction;

    (e)     an order releasing or discharging, wholly or partly, a debt incurred, or a security or guarantee given, by the company under or in connection with the transaction;

    (f)      if the transaction is an unfair loan and such a debt, security or guarantee has been assigned—an order directing a person to

     indemnify the company in respect of some or all of its liability to the assignee;

     (g) an order providing for the extent to which, and the terms on which, a debt that arose under, or was released or discharged to any extent by or under, the transaction may be proved in a winding up of the company;

    (h) an order declaring an agreement constituting, forming part of, or relating to, the transaction, or specified provisions of such an agreement, to have been void at and after the time when the agreement was made, or at and after a specified later time;

     (i) an order varying such an agreement as specified in the order and, if the Court thinks fit, declaring the agreement to have had effect, as so varied, at and after the time when the agreement was made, or at and after a specified later time;

     (j) an order declaring such an agreement, or specified provisions of such an agreement, to be unenforceable.

"(2) Nothing in subsection (1) limits the generality of anything else in it.

  "(3) An application under subsection (1) may only be made:

  (a)     within 3 years after the relation-back day; or

    (b)     within such longer period as the Court orders on an application under this paragraph made by the liquidator within those 3 years.

Transaction not voidable as against certain persons

"588FG.(1) The Court is not to make under section 588FF an order materially prejudicing a right or interest of a person other than a party to the transaction if it is proved that:

  (a)     the person received no benefit because of the transaction; or

    (b)     in relation to each benefit that the person received because of the transaction:

      (i) the person received the benefit in good faith; and

      (ii) at the time when the person received the benefit:

             (A)    the person had no reasonable grounds for suspecting that