Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p56
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 56/60)
Character Range: 321643–324345

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 day on which the liquidator receives a sufficient written answer to his or her request.

5.6.67  Declaration and distribution of dividend
 (1) The liquidator must, as soon as practicable, declare and distribute a dividend among the creditors whose debts or claims have been admitted.
 (2) The liquidator must distribute as dividend all money in hand except enough:
 (a) to meet the costs of administration; or
 (b) to give effect to the provisions of the Act.
 (3) If the liquidator declares a dividend, he or she must send a notice of that declaration, in accordance with Form 549, to every person entitled to receive payment of the dividend.

5.6.67A  Single declaration and distribution of dividend for companies in simplified liquidation
  The liquidator of a company that is subject to the simplified liquidation process may declare and distribute a dividend only once among creditors whose debts or claims have been admitted.

5.6.68  Rights of creditor who has not proved debt before declaration of dividend
 (1) If:
 (a) a creditor's debt or claim has not been admitted before the declaration of a dividend; and
 (b) the debt or claim is admitted;
the creditor is entitled to be paid dividends that the creditor has failed to receive, out of any available money for the time being in the hands of the liquidator, before that money is applied to the payment of a further dividend.
 (2) A creditor is not entitled to disturb the distribution of a dividend declared before the creditor's debt or claim was admitted.
 (3) This regulation does not apply in relation to a creditor of a company that is subject to the simplified liquidation process.

5.6.69  Postponement of declaration
  If the liquidator postpones the declaration of a dividend past the date shown for that purpose in the notice lodged with ASIC in accordance with subregulation 5.6.75(4), the liquidator must lodge another notice with ASIC for publication on the publication website of the liquidator's intention to declare a dividend.

5.6.70  Payment of dividend to a person named
  If a person to whom a dividend is payable lodges an authority in accordance with Form 550 with the liquidator, the liquidator must pay the dividend to the person to whom payment is directed by that authority.

5.6.70A  Prescribed rate of interest on debts and claims from relevant date to date of payment
  For section 563B of the Act, the prescribed rate of interest on the amount paid in respect of an admitted debt or