Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1611
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1611
Character Range: 6112108–6113367

1611  Validity of appointment under section 548 of the old Act not affected by lack of separate meeting of contributories
 (1) The appointment of a committee of inspection under section 548 of the old Act before the commencement day is not invalid merely because a separate meeting of contributories was not convened for the purposes of determining:
 (a) whether a committee of inspection should be appointed; and
 (b) where a committee of inspection is to be appointed:
 (i) the numbers of members to represent the creditors and the contributories, respectively; and
 (ii) the persons who are to be members of the committee representing creditors and contributories, respectively.
 (2) However, if:
 (a) a debt or claim has been paid in the winding up of a company before the commencement day; and
 (b) the priority given to the debt or claim was determined under section 556 of the Corporations Act 2001 on the basis that a committee of inspection was not validly appointed because a separate meeting of contributories was not convened for the purposes mentioned in paragraphs (1)(a) and (b); and
 (c) but for subsection (1), the committee of inspection would not have been validly appointed;
the priority of the payment is not affected by subsection (1).