Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p36
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 36/60)
Character Range: 273690–276470

and
 (b) lodge with ASIC notice in the prescribed form (if any) of the making of the plan, including information about:
 (i) the total value of the debts and claims set out in the schedule of debts and claims included with the company's restructuring proposal statement; and
 (ii) the number of affected creditors to whom the restructuring practitioner gave a copy of the documents mentioned in paragraph 5.3B.21(1)(a); and
 (iii) the proportion in value of affected creditors that gave, before the end of the acceptance period, a statement under paragraph 5.3B.21(1)(b) that the plan should be accepted.
Note: Failure to comply with this subregulation is an offence: see subsection 1311(1) of the Act.

5.3B.56  Notice of contravention of restructuring plan

Director to notify restructuring practitioner
 (1) If a director of a company that has made a restructuring plan becomes aware that:
 (a) there has been a contravention of the plan by a person bound by the plan (who may be the director); or
 (b) there is likely to be a contravention of the plan by a person bound by the plan (who may be the director);
the director must, within 2 business days after the day on which the director becomes aware of the contravention or likely contravention, give written notice of the contravention or likely contravention to the restructuring practitioner for the plan.
Note: Failure to comply with this subregulation is an offence: see subsection 1311(1) of the Act.

Restructuring practitioner to notify company's creditors
 (2) If the restructuring practitioner for a restructuring plan receives notice under subregulation (1), or otherwise becomes aware, that:
 (a) there has been a contravention of the plan by a person bound by the plan (who may be the restructuring practitioner); or
 (b) there is likely to be a contravention of the plan by a person bound by the plan (who may be the restructuring practitioner);
the restructuring practitioner must, within 2 business days after the day on which the restructuring practitioner receives the notice or becomes so aware:
 (c) lodge with ASIC notice in the prescribed form (if any) of the contravention or likely contravention; and
 (d) give a copy of the notice to as many of the company's creditors as reasonably practicable.
Note: Failure to comply with this subregulation is an offence: see subsection 1311(1) of the Act.

5.3B.57  Notice of termination of restructuring plan
 (1) If a company's restructuring plan terminates because of the happening of the event mentioned in paragraph 5.3B.31(1)(a):
 (a) the directors of the company must, within 2 business days after the day on which the directors become aware of the happening of the event, give written notice of the termination to the person (the former practitioner) who