Practice Note CORP 3
This Practice Note is REVOKED
On 25 October 2016, as part of the National Court Framework reforms, all existing practice documents were revoked and new national practice notes were issued, effective immediately.
To assist Court users to understand these practice note changes, the Court has prepared:
Schemes of arrangement
1. When making an order under subsection 411(1) of the Corporations Act 2001 (Cth) the Court will require that the explanatory statement or a document accompanying the explanatory statement, prominently display a notice in the following form or to the following effect:
“IMPORTANT NOTICE ASSOCIATED WITH COURT ORDER UNDER SUBSECTION 411(1) OF CORPORATIONS ACT 2001 (Cth)
The fact that under subsection 411(1) of the Corporations Act 2001 (Cth) the Court has ordered that a meeting be convened and has approved the explanatory statement required to accompany the notices of the meeting does not mean that the Court:
(a) has formed any view as to the merits of the proposed scheme or as to how members/creditors should vote (on this matter members/creditors must reach their own decision); or
(b) has prepared, or is responsible for the content of, the explanatory statement.”
