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CORPORATIONS ACT 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

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

Division 3 - Application of Part 3 of the Insolvency Practice Schedule (Corporations) and related consequential amendments    View history reference

Subdivision H - Review of the external administration of a company    View history reference

SECTION 1618  COURT POWERS TO INQUIRE INTO AND MAKE ORDERS  

Application of the Insolvency Practice Schedule (Corporations)

1618(1)  

Subsections (2) to (4) are for the avoidance of doubt.

1618(2)  

Sections 90-5 and 90-10 of the Insolvency Practice Schedule (Corporations) apply whether or not the information, report or document mentioned in subsections 90-5(2) and 90-10(4) was prepared before, on or after the commencement day.

[CCH Note: Regulation Sch 13, items [25] and [26] (which was effective 1 March 2017) provide that s 1618(2) is amended as follows:

After "apply", insert "on and after 1 September 2017".
Omit "the commencement day", substitute "that day".
]

1618(3)  

Paragraph 90-15(3)(f) of the Insolvency Practice Schedule (Corporations) applies whether or not the remuneration is paid or payable before, on or after the commencement day.

[CCH Note: Regulation Sch 13, items [27] and [28] (which was effective 1 March 2017) provide that s 1618(3) is amended as follows:

After "applies", insert "on and after 1 September 2017".
Omit "the commencement day", substitute "that day".
]

1618(4)  

Subsection 90-15(4) of the Insolvency Practice Schedule (Corporations) applies whether or not the action or failure to act occurred before, on or after the commencement day.

[CCH Note: Regulation Sch 13, items [29] and [30] (which was effective 1 March 2017) provide that s 1618(4) is amended as follows:

After "applies", insert "on and after 1 September 2017".
Omit "the commencement day", substitute "that day".
]

Old Act continues to apply for inquiries started under section 536

1618(5)  

Despite the repeal of section 536 of the old Act by Schedule 2 to the Insolvency Law Reform Act 2016, that section continues to apply in relation to inquiries commenced by ASIC before the commencement day (including inquiries commenced because of the extension of section 536 by subsection 411(9) to persons appointed under the terms of a compromise or arrangement).

Application of new section 599

1618(6)  

Section 599 (as inserted by Schedule 2 to the Insolvency Law Reform Act 2016) applies whether or not the act, omission or decision occurred before, on or after the commencement day.

[CCH Note: Regulation Sch 13, items [31] and [32] (which was effective 1 March 2017) provide that s 1618(6) is amended as follows:

After "applies", insert "on and after 1 September 2017".
Omit "the commencement day", substitute "that day".
]


 



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