Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If a * scheme, or 2 or more * related schemes, give rise to a * debt interest in an entity, the debt interest:
(a) consists of the interest that carries the right to receive a * financial benefit that the entity or a * connected entity has an * effectively non - contingent obligation to provide under the scheme or any of the schemes; and
(b) is taken, subject to section 974 - 60, to be a debt interest in the entity; and
(c) is taken to be issued by the entity; and
(d) is issued when the entity (or a connected entity of the entity) first receives a * financial benefit under the scheme or any of the schemes; and
(e) is on issue while an effectively non - contingent obligation of the entity (or a connected entity of the entity) to provide a financial benefit under the scheme or any of the schemes remains unfulfilled.
(2) The interest referred to in paragraph (1)(a) may take the form of a proprietary right, a chose in action or any other form.