Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p107
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 107/110)
Character Range: 423298–426018

orders as the Court thinks necessary.

  "(3) In this section:

'related creditor', in relation to a company or Part 5.1 body, in relation to a vote, means a person who, when the vote was cast, was a related entity, and a creditor, of the company or body.

Review by Court of resolution of creditors passed on casting vote of chairperson of meeting

"600B.(1) This section applies if, because the person presiding at the meeting exercises a casting vote, a resolution is passed at a meeting of creditors of a company held:

     (a)     under Part 5.3A or a deed of company arrangement executed by the company; or

   (b)     in connection with winding up the company.

"(2) A person may apply to the Court for an order setting aside or varying the resolution, but only if:

     (a)     the person voted against the resolution in some capacity (even if the person voted for the resolution in another capacity); or

     (b)     a person voted against the resolution on the first-mentioned person's behalf.

  "(3) On an application, the Court may:

   (a)     by order set aside or vary the resolution; and

     (b)    if it does so—make such further orders, and give such directions, as it thinks necessary.

"(4) On and after the making of an order varying the resolution, the resolution has effect as varied by the order.

Court's powers where proposed resolution of creditors lost on casting vote of chairperson of meeting

"600C.(1) This section applies if, because the person presiding at the meeting exercises a casting vote, or refuses or fails to exercise such a vote, a proposed resolution is not passed at a meeting of creditors of a company held:

    (a)     under Part 5.3A or a deed of company arrangement executed by the company; or

  (b)     in connection with winding up the company.

"(2) A person may apply to the Court for an order under subsection (3), but only if:

    (a)     the person voted for the proposed resolution in some capacity (even if the person voted against the proposed resolution in another capacity); or

    (b)     a person voted for the proposed resolution on the first-mentioned person's behalf.

  "(3) On an application, the Court may:

    (a)     order that the proposed resolution is taken to have been passed at the meeting; and

    (b)    if it does so—make such further orders, and give such directions, as it thinks necessary.

"(4) If an order is made under paragraph (3)(a), the proposed resolution:

    (a)     is taken for all purposes (other than those of subsection (1)) to have been passed at the meeting; and

  (b)     is taken to have taken effect:

         (i) if the order specifies a time when the proposed resolution is to be taken to have taken