Corporations Act 2001
CHAPTER 5
-
EXTERNAL ADMINISTRATION
PART 5.4
-
WINDING UP IN INSOLVENCY
(a) because of a defect in the demand, substantial injustice will be caused unless the demand is set aside; or
(b) there is some other reason why the demand should be set aside. 459J(2) [ Mere defect]
Note: This Part applies to a sub-fund of a CCIV in a modified form: see Division 5 of Part 8B.6 .
Division 3
-
Application to set aside statutory demand
SECTION 459J
SETTING ASIDE DEMAND ON OTHER GROUNDS
459J(1)
[
Defect or other reason]
On an application under section 459G, the Court may by order set aside the demand if it is satisfied that:
(a) because of a defect in the demand, substantial injustice will be caused unless the demand is set aside; or
(b) there is some other reason why the demand should be set aside. 459J(2) [ Mere defect]
Except as provided in subsection (1), the Court must not set aside a statutory demand merely because of a defect.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.