Document ID: chunk:federal_register_of_legislation:C2010A00150:clause:1_563a
Version: federal_register_of_legislation:C2010A00150
Segment Type: clause
Provision Reference: sch 1 cl 563A
Character Range: 2992–3716

563A  Postponing subordinate claims
 (1) The payment of a subordinate claim against a company is to be postponed until all other debts payable by, and claims against, the company are satisfied.
 (2) In this section:
claim means a claim that is admissible to proof against the company (within the meaning of section 553).
debt means a debt that is admissible to proof against the company (within the meaning of section 553).
subordinate claim means:
 (a) a claim for a debt owed by the company to a person in the person's capacity as a member of the company (whether by way of dividends, profits or otherwise); or
 (b) any other claim that arises from buying, holding, selling or otherwise dealing in shares in the company.