Section 568D — Corporations Act 2001 (Cth)

(1) A disclaimer is taken to have terminated, as from the day on which it is taken because of subsection 568C(3) to take effect, the company’s rights, interests, liabilities and property in or in respect of the disclaimer property, but does not affect any other person’s rights or liabilities except so far as necessary in order to release the company and its property from liability.

(2) A person aggrieved by the operation of a disclaimer is taken to be a creditor of the company to the extent of any loss suffered by the person because of the disclaimer and may prove such a loss as a debt in the winding up.

Related sections

• s 568A — Liquidator must give notice of disclaimer
• s 568B — Application to set aside disclaimer before it takes effect
• s 568C — When disclaimer takes effect
• s 568E — Application to set aside disclaimer after it has taken effect
• s 568F — Court may dispose of disclaimed property
• s 569 — Executions, attachments etc. before winding up

Research how courts apply s 568D

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.