Document ID: chunk:federal_register_of_legislation:C2004C01393:clause:1_234a
Version: federal_register_of_legislation:C2004C01393
Segment Type: clause
Provision Reference: sch 1 cl 234A
Character Range: 51671–53109

234A  Variation of deed of arrangement

Variation by special resolution of creditors

 (1) The creditors, with the written consent of the debtor, may vary a deed of arrangement by special resolution at a meeting called for the purpose.

Variation by trustee

 (2) The trustee, with the written consent of the debtor, may, in writing, propose a variation of a deed of arrangement.

 (3) The trustee must give notice of the proposed variation to all the creditors who would be entitled under section 64A (as that section applies in accordance with section 223A) to receive notice of a meeting of creditors.

 (4) The notice must:
 (a) include a statement of the reasons for the variation and the likely impact it will have on creditors (if it takes effect); and
 (b) specify a date (at least 14 days after the notice is given) from which it is proposed that the variation will take effect; and
 (c) state that any creditor may, by written notice to the trustee at least 2 days before the specified date, object to the variation taking effect without there being a meeting of creditors.

 (5) If no creditor lodges a written notice of objection with the trustee at least 2 days before the specified date, then the proposed variation takes effect on the date specified in the notice.

 (6) A certificate signed by the trustee stating any matter relating to a proposed variation under subsection (2) is prima facie evidence of the matter.