THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.9 - MISCELLANEOUS

Division 3 - Provisions applying to various kinds of external administration

SECTION 600B   REVIEW BY COURT OF RESOLUTION OF CREDITORS PASSED ON CASTING VOTE OF PERSON PRESIDING AT MEETING  

600B(1)  [Resolution passed on casting vote]  

This section applies if, because the person presiding at the meeting exercises a casting vote, a resolution is passed at a meeting of creditors of a company held:

(a)  under Part 5.3A or a deed of company arrangement executed by the company; or

(b)  in connection with winding up the company.

600B(2)  [Application to set aside resolution]  

A person may apply to the Court for an order setting aside or varying the resolution, but only if:

(a)  the person voted against the resolution in some capacity (even if the person voted for the resolution in another capacity); or

(b)  a person voted against the resolution on the first-mentioned person's behalf.

600B(3)  [Court may set aside or vary resolution]  

On an application, the Court may:

(a)  by order set aside or vary the resolution; and

(b)  if it does so - make such further orders, and give such directions, as it thinks necessary.

600B(4)  [Effect of varied resolution]  

On and after the making of an order varying the resolution, the resolution has effect as varied by the order.