Document ID: chunk:federal_register_of_legislation:C2025C00185:section:579
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 579
Character Range: 1934142–1934935

579  Duties of liquidator
 (1) This section applies if:
 (a) the liquidator or liquidators of a group of 2 or more companies exercise a power conferred by section 571 or subsection 577(1A); and
 (b) the liquidator or liquidators, in the exercise of that power, acted:
 (i) with due care; and
 (ii) in good faith; and
 (iii) for the benefit of the creditors of the companies in the group, considered as a whole.
 (2) The liquidator or liquidators are taken not to be in breach of:
 (a) any duty to a company in the group concerned (whether under section 180, 181, 182, 183 or 184 or otherwise and whether of a fiduciary nature or not); or
 (b) any duty to the creditors of a company in the group concerned (whether of a fiduciary nature or not);
in connection with the exercise of that power.