Section 577 — Corporations Act 2001: Eligible unsecured creditors may decide to approve the determination or variation

(1A) Within 5 business days after the liquidator or liquidators of a group of 2 or more companies: (a) make a pooling determination in relation to the group; or (b) vary a pooling determination in force in relation to the group; the liquidator or liquidators must convene separate meetings of the eligible unsecured creditors of each of the companies in the group. Note: For eligible unsecured creditor, see section 579Q. (1) At a meeting convened under subsection (1A), the eligible unsecured creditors may resolve to approve the making of the determination or variation. (3) If, at a meeting convened under subsection (1A), the eligible unsecured creditors do not resolve to approve the making of the determination or variation: (a) the determination or variation is cancelled at the end of the meeting; and (b) if, as at the end of the meeting, a corresponding resolution has not been considered at another meeting convened under subsection (1A) of the eligible unsecured creditors of another company in the group—that other meeting is cancelled.