Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 10.25.01

Transition to Part 3 of the Insolvency Practice Schedule (Corporations)

             (1)  For the purposes of subsection 1634(1) of the Act, Part 10.25 of Chapter 10 of the Act applies as if the references in Divisions 3 and 5 of that Part to the commencement day were a reference to 1 September 2017.

             (2)  For the purposes of subsection 1634(1) of the Act, Part 10.25 of Chapter 10 of the Act applies as if the definition of ongoing external administration in section 1551 of the Act were omitted and the following definition were substituted for the purposes of Divisions 3 and 5 of that Part:

ongoing external administration of a company means an external administration of a company that started before 1 September 2017 and ends after that day.

             (3)  For the purposes of subsection 1634(2) of the Act, Part 10.25 of Chapter 10 of the Act applies as if Divisions 1, 2 and 3 of that Part were modified as set out in Schedule 13.



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