Members of continued committees
(1) The members of a continued committee are the members appointed to the committee under section 436E (in accordance with section 436G), 548 or 548A of the old Act, as the case requires.
Old Act continues to apply to members of continued committees
(2) If a person is a member of a continued committee, then despite the repeal of:
(a) section 436G, 548 or 548A (and any regulations made under that section), as the case requires; and
(b) section 550;
by Schedule 2 to the Insolvency Law Reform Act 2016 , those provisions continue to apply in relation to the person.
Application of the Insolvency Practice Schedule (Corporations)
(3) The following provisions do not apply in relation to members of a continued committee:
(a) sections 80- 15 to 80-25 and paragraph 80-26(2)(b) of the Insolvency Practice Schedule (Corporations);
(b) Insolvency Practice Rules made under section 80-30 of the Insolvency Practice Schedule (Corporations) that relate to membership of a committee of inspection.
Note: However, the committee could dissolve and the members could form a new committee to which these provisions would then apply.