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CORPORATIONS ACT 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.25 - TRANSITIONAL PROVISIONS RELATING TO THE INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)  

Division 2 - Application of Part 2 of the Insolvency Practice Schedule (Corporations) and related consequential amendments    View history reference

Subdivision D - Cancellation by ASIC under the old Act    View history reference

SECTION 1563  REQUEST FOR CANCELLATION MADE BEFORE THE COMMENCEMENT DAY  

 View history reference

1563(1)  

This section applies if:


(a) before the commencement day, a person requests ASIC under section 1290 of the old Act to cancel the person's registration as a liquidator or as a liquidator of a specified body corporate; and


(b) no decision by ASIC to cancel that registration has come into effect before the commencement day.

1563(2)  

ASIC may not cancel the registration under section 1290 of the old Act.

1563(3)  

However, for the purposes of paragraph 40-30(1)(f) of the Insolvency Practice Schedule (Corporations), the person is taken to have lodged a request with ASIC in the approved form to have the person's registration as a liquidator under the Insolvency Practice Schedule (Corporations) cancelled.

1563(4)  

The amendments of section 1290 made by Schedule 2 to the Insolvency Law Reform Act 2016 apply in relation to requests made to ASIC under section 1290 on or after the commencement day.


 



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