Statutory Demand Template
The Australian Treasury describes a statutory demand as… A notice made by a creditor under the Corporations Act on a debtor company. As the name suggests, a statutory demand demands the payment of a debt.
One is a demand pursuant to a judgement debt, the other is a demand for a single debt. The precedents come with commentary covering:
- Statutory Demands – overview of practice and procedure
- What is a statutory demand?
- Requirements of a Statutory Demand
- Formal requirements of a Statutory Demand
The precedents set out the formal requirements of a Statutory Demand in basic form.
This must be accompanied by affidavit, pursuant to section 495E (3) of the Corporations Act 2001, unless it is a judgement debt. It is good practice to accompany all Statutory Demands by affidavit. An Affidavit is included in this precedent set.
Debt Recovery Statutory Demand Template
This information is not legal advice given by Precedents Online or its Authors
CORPORATIONS ACT 2001 – SECT 459E Creditor may serve statutory demand on company
CORPORATIONS ACT 2001 – SECT 459E
(a) if it relates to a single debt–must specify the debt and its amount; and
(b) if it relates to 2 or more debts–must specify the total of the amounts of the debts; and
(c) must require the company to pay the amount of the debt, or the total of the amounts of the debts, or to secure or compound for that amount or total to the creditor’s reasonable satisfaction, within 21 days after the demand is served on the company; and
(e) must be in the prescribed form (if any); and
(f) must be signed by or on behalf of the creditor.
(b) complies with the rules.
(b) former subsection 221YHDC(2);
(c) former subsection 221YHZD(1) or (1A);
(d) former subsection 221YN(1);