Eligible unsecured creditor
(1) Subject to subsection (2), for the purposes of the application of this Division to a group of 2 or more companies, a creditor of a company in the group is an eligible unsecured creditor of that company if: (a) both: (i) the creditor’s debt or claim is unsecured; and (ii) the creditor is not a company in the group; or (b) the creditor is specified in the regulations. Note: For specification by class, see subsection 13(3) of the Legislation Act 2003. (2) The regulations may provide that, for the purposes of the application of this Division to a group of 2 or more companies, a specified creditor of a company in the group is not an eligible unsecured creditor of that company. Note: For specification by class, see subsection 13(3) of the Legislation Act 2003.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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