Section 579B — Corporations Act 2001 (Cth)

(1) If:

(a) a pooling determination is in force in relation to a group of 2 or more companies; and

(b) the determination is varied; and

(c) the variation has come into force;

either of the following persons may apply to the Court for an order cancelling the variation:

(d) a creditor of a company in the group;

(e) 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.

(2) On an application, the Court:

(a) may make an order cancelling the variation, or confirming it, either wholly or in part, on such conditions (if any) as the order specifies; and

(b) may make such other orders as it thinks appropriate.

(3) If the Court makes an order under subsection (2), the applicant for the order must:

(a) lodge with ASIC a notice setting out the text of the order; and

(b) do so within 2 business days after the making of the order.

The notice must be in the prescribed form.

Related sections

• s 578 — When pooling determination comes into force etc.
• s 579 — Duties of liquidator
• s 579A — Court may vary or terminate pooling determination
• s 579C — When Court may void or validate pooling determination
• s 579D — Effect of termination or avoidance
• s 579E — Pooling orders

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