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CORPORATIONS ACT 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.9 - TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (INSOLVENCY) ACT 2007  

SECTION 1482  SCHEDULE 3 TO THE AMENDING ACT (IMPROVING REGULATION OF INSOLVENCY PRACTITIONERS)  

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1482(1)  [Liquidators]  


The amendment made by item 7 of Schedule 3 to the amending Act applies to an application for registration if the application was made on or after the day on which that item commences.

1482(2)  [Statements by liquidators]  


Despite the amendment made by item 9 of Schedule 3 to the amending Act, subsection 1288(3) continues to apply, in relation to a 3-year period ending before the day on which that item commences, as if that amendment had not been made.

1482(3)  [Statements by newly registered liquidators]  


Subsection 1288(3) as amended by item 9 of Schedule 3 to the amending Act applies as follows:


(a) in the case of a person whose first 12 months of registration ends on or after the day on which that item commences - that subsection applies in relation to:


(i) the person's first 12 months of registration; and

(ii) each subsequent period of 12 months;


(b) in the case of a person whose first 12 months of registration ended before the day on which that item commences - that subsection applies as if the reference in paragraph 1288(3)(a) to the day on which the person's registration begins (the initial registration day) were a reference to the last anniversary of the initial registration day that occurred before the day on which that item commences.

For this purpose, a person's first 12 months of registration is the period of 12 months beginning on the day on which the person's registration begins.

1482(4)  [Notice of Board decision]  


The amendment made by item 12 of Schedule 3 to the amending Act applies in relation to a decision made on or after the day on which that item commences.


 



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