Section 579Q — Corporations Act 2001: 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.