Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p55
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 55/60)
Character Range: 319349–321868

a company that is subject to the simplified liquidation process.
 (2) A notice in accordance with subregulation (1) must specify a date, not less than 21 days after the date of the notice, on or before which formal proof, in accordance with Form 535 or 536, of a debt or claim must be submitted to participate in the distribution.
 (2A) Also, the notice must state at least the following information:
 (a) the name of the company;
 (b) any trading name of the company;
 (c) the ACN of the company;
 (d) if Division 1 of Part 5.6 of the Act applies for a sub‑fund of a CCIV because of section 1237B of the Act—the ARFN of the sub‑fund.
 (3) Subject to regulation 5.6.68, a person:
 (a) who claims to be a creditor; and
 (b) who does not submit a formal proof of a debt or claim on or before the date specified in the notice given under subregulation (1);
is excluded from participating in the distribution to which that notice relates.
Note: If Division 1 of Part 5.6 of the Act applies for a sub‑fund of a CCIV because of section 1237B of the Act, that section translates most of this regulation's references to the company so that they are references to the sub‑fund.

5.6.66  Time allowed for dealing with formal proof of debt or claim
 (1) If the liquidator has given notice in accordance with subregulation 5.6.65(1), the liquidator must:
 (a) within 14 days after the date shown in the notice; or
 (b) within such further period as ASIC allows;
in writing:
 (c) before the end of that period:
 (i) admit a formal proof of debt or claim received by the liquidator; or
 (ii) reject it; or
 (iii) admit part of it and reject part of it; or
 (iv) require further evidence in support of it; and
 (d) give notice of the liquidator's decision to the creditor who submitted the proof.
 (2) If, within whichever period is applicable under paragraph (1)(a) or (b) or subregulation (3), the liquidator does not, in writing, deal with a formal proof of debt or claim in accordance with paragraphs (1)(c) and (d), the creditor who submitted the proof may apply to the Court for a decision on it.
 (3) If the liquidator gives notice to a creditor that further evidence is required in relation to a formal proof of debt or claim submitted by the creditor:
 (a) the liquidator must, in writing, deal with the formal proof of debt or claim in accordance with paragraphs (1)(c) and (d), within whichever period mentioned in paragraph (1)(a) or (b) is applicable; and
 (b) that period must be taken not to have begun to run until the