Section 579L — Corporations Act 2001: Consolidated meetings of creditors

(1) If: (a) either: (i) a pooling determination is in force in relation to a group of 2 or more companies; or (ii) a pooling order is in force in relation to a group of 2 or more companies; and (b) each company in the group is being wound up; then, unless the Court otherwise orders: (c) instead of convening separate meetings under or for the purposes of a particular provision of this Act, the liquidator or liquidators may convene a meeting under or for the purposes of that provision, on a consolidated basis, of the creditors of the companies in the group; and (d) a resolution passed at a consolidated meeting by those creditors is taken to have been passed by the creditors of each of the companies in the group; and (e) if there are 2 or more liquidators—one of those liquidators is to preside at a consolidated meeting; and (f) notice of a consolidated meeting may be given by the liquidator or liquidators. Note: See also Division 80 (committees of inspection) of Schedule 2. (2) The regulations may make provision for or in relation to: (a) the convening of, conduct of, and procedure and voting at, consolidated meetings of creditors; and (b) the number of persons required to constitute a quorum at any such meeting; and (c) the sending of notices of meetings to persons entitled to attend any such meeting; and (d) the lodging of copies of notices of, and of resolutions passed at, any such meeting; and (e) generally regulating the conduct of, and procedure at, any such meeting.