CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.6 - WINDING UP GENERALLY  

Division 8 - Pooling  

Subdivision B - Pooling orders  

SECTION 579H   VARIATION OF ANCILLARY ORDERS ETC.  

579H(1)   Variation of ancillary order.  

The Court may, by order, vary an order made under subsection 579G(1) if the Court is of the opinion that it is just and equitable to do so.

579H(2)   [ Standing to vary order]  

An order made under subsection 579G(1) may only be varied on the application of:


(a) the liquidator of a company in the group; or


(b) a creditor of a company in the group, so long as the creditor is not a company in the group; or


(c) in a case where a company in the group is being wound up under a members ' voluntary winding up - a member of the company, so long as the member is not a company in the group.

579H(3)   Variation of direction.  

The Court may vary a direction given under subsection 579G(1) if the Court is of the opinion that it is just and equitable to do so.

579H(4)   [ Standing to vary direction]  

A direction given under subsection 579G(1) may only be varied on the application of:


(a) the liquidator of a company in the group; or


(b) a creditor of a company in the group; or


(c) in a case where a company in the group is being wound up under a members ' voluntary winding up - a member of the company, so long as the member is not a company in the group.

579H(5)   Lodgment of order or direction.  

An order under subsection (1) must be lodged with ASIC.

579H(6)   [ Lodgment of variation]  

A variation of a direction given under subsection 579G(1) must be lodged with ASIC.


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