Dictionary

  • Uncommercial transactions

    (in the context of company liquidation)
    An uncommercial transaction under section 588FB of the Corporations Act 2001 (Cth) is: “A transaction of a company is an uncommercial transaction of the company if, and only if, it may be expected that a reasonable person in the company’s circumstances would not have entered into the transaction having regard to: a) the benefits (if any) to the company of entering into the transaction; and (b) the detrminent to the company of entering into the transaction; and (c) the respective benefits to other parties to the transaction of entering into it; and (d) any other relevant matter”.

made by avanavo.com

×