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CORPORATIONS AND OTHER LEGISLATION AMENDMENT (INSOLVENCY LAW REFORM) REGULATION 2016 (F2016L01926) - SCHEDULE 1

Amendments relating to the Insolvency Law Reform Act 2016

Part 1 -- Amendments commencing the same time as Schedule 1 to the Insolvency Law Reform Act 2016

Agricultural and Veterinary Chemicals (Administration) Regulations 1995

1  Subparagraph 3.315(1)(c)(ii)

Omit "an externally administered body corporate", substitute "a Chapter 5 body corporate".

Agricultural and Veterinary Chemicals Code Regulations 1995

2  Subregulation 61(10)

Omit "an externally-administered body corporate" (wherever occurring), substitute "a Chapter 5 body corporate".

A New Tax System (Goods and Services Tax) Regulations 1999

3  Subregulation 33-15.03(2)

Omit "an externally-administered body corporate", substitute "a Chapter 5 body corporate (within the meaning of by section 9 of the Corporations Act 2001 )".

4  Dictionary (definition of externally-administered body corporate )

Repeal the definition.

Australian Securities and Investments Commission Regulations 2001

5  Regulation 8AA

Repeal the regulation, substitute:

8AA   Prescribed professional disciplinary and other bodies

             (1)  For the purposes of subparagraph 127(4)(d)(i) of the Act, the following professional disciplinary bodies are prescribed:

                     (a)  the Australian Restructuring Insolvency and Turnaround Association;

                     (b)  CPA Australia;

                     (c)  Chartered Accountants Australia and New Zealand;

                     (d)  the Institute of Public Accountants;

                     (e)  the New South Wales Bar Association;

                      (f)  the Law Society of New South Wales;

                     (g)  the Victorian Legal Services Commissioner;

                     (h)  the Victorian Legal Services Board;

                      (i)  the Bar Association of Queensland;

                      (j)  the Queensland Law Society;

                     (k)  the Legal Practice Board of Western Australia;

                      (l)  the Law Society of South Australia;

                    (m)  the Legal Profession Conduct Commissioner of South Australia;

                     (n)  the Law Society of Tasmania;

                     (o)  the Law Society of the Australian Capital Territory;

                     (p)  the Law Society Northern Territory.

             (2)  For the purposes of subparagraph 127(4)(d)(ii) of the Act, the Australian Restructuring Insolvency and Turnaround Association is prescribed in relation to performing a disciplinary function in relation to a member of the Association.

6  Subregulation 8AAA(2) (after table item 4)

Insert:

4A

Section 30B of the Act

Powers relating to requesting information and books

7  Schedule 1 (Form 3)

Omit "and Liquidators".

Bankruptcy Regulations 1996

8  Subregulation 1.03(1) (definition of taxing officer )

Repeal the definition.

9  Subregulation 1.03(1) (definition of working day )

Repeal the definition.

10  Subregulations 4.05(1) and (3)

Omit "working days", substitute "business days".

11  Subregulations 10.03(2) and (3)

Omit "working days", substitute "business days".

12  Subregulations 11.01A(1) and (2)

Omit "working days", substitute "business days".

13  Item 2 of Schedule 8

Omit "working days", substitute "business days".

14  Items 16, 17, 18 and 19 of Schedule 8

Repeal the items.

15  Item 22 of Schedule 8

Omit "working days" (wherever occurring), substitute "business days".

16  Item 24 of Schedule 8

Omit "working days", substitute "business days".

Civil Aviation Safety Regulations 1998

17  Sub-subparagraph 11.072(1)(g)(i)(A)

Omit "an externally-administered body corporate", substitute "a Chapter 5 body corporate".

Coal Mining Industry (Long Service Leave) Administration Regulations 1993

18  Paragraph 3(3)(a)

Omit "an externally administered body corporate", substitute "a Chapter 5 body corporate".

Competition and Consumer (Industry Codes--Franchising) Regulation 2014

19  Subclause 4(2) of Schedule 1

Insert:

                            Chapter 5 body corporate

20  Subclause 4(2) of Schedule 1

Omit:

                            externally-administered body corporate

21  Paragraph 17(3)(g) of Schedule 1

Omit "an externally-administered body corporate", substitute "a Chapter 5 body corporate".

22  Paragraph 29(1)(b) of Schedule 1

Omit "an externally-administered body corporate", substitute "a Chapter 5 body corporate".

23  Paragraph 4.2(c) of Annexure 1 of Schedule 1

Omit "an externally-administered body corporate", substitute "a Chapter 5 body corporate".

Competition and Consumer (Industry Codes--Oilcode) Regulation 2006

24  Subsection 4(2) of Schedule 1

Insert:

                            Chapter 5 body corporate

25  Subsection 4(2) of Schedule 1

Omit:

                            externally-administered body corporate

26  Paragraphs 29(2)(j) and 36(1)(b) of Schedule 1

Omit "an externally-administered body corporate", substitute "a Chapter 5 body corporate".

27  Paragraph 4.2(c) of Annexure 1 of Schedule 1

Omit "an externally-administered body corporate", substitute "a Chapter 5 body corporate".

28  Paragraph 3.2(c) of Annexure 2 of Schedule 1

Omit "an externally-administered body corporate", substitute "a Chapter 5 body corporate".

Corporations (Aboriginal and Torres Strait Islander) Regulations 2007

29  Part 4 of Schedule 2 (table item 19, column headed "Information or document")

Omit "Deed of corporation arrangement", substitute "Notice of execution of the deed of company arrangement".

Corporations Regulations 2001

30  Subregulation 1.0.02(1) (paragraph (c) of the definition of registration number )

Repeal the paragraph, substitute:

                     (c)  for an auditor--the number allotted to a person on registration of that person as an auditor.

31  Regulation 1.0.03A (table item 16)

Repeal the item.

32  Regulation 1.0.12

Omit "491(2),".

33  Regulation 5.2.01 (second occurring)

Renumber regulation as 5.2.02.

34  Regulation 5.3A.04

Repeal the regulation.

35  Regulation 5.3A.07

Repeal the regulation.

36  Subparagraph 5C.11.01(1)(c)(i)

Omit "an externally-administered body corporate", substitute "a Chapter 5 body corporate".

37  Paragraphs 9.1.01(k) and (l)

Repeal the paragraphs.

38  Paragraphs 9.1.02(k) and (l)

Repeal the paragraphs.

39  Part 9.2 (heading)

Repeal the heading, substitute:

Part 9.2 -- Registration of auditors

40  Regulation 9.2.02 (heading)

Repeal the heading, substitute:

9.2.02   Prescribed universities and institutions (Act ss 1280(2A))

41  Regulation 9.2.02

Omit "and subparagraph 1282(2)(a)(ii)".

42  Subparagraph 9.2A.01(c)(v)

Omit "an externally-administered body corporate", substitute "a Chapter 5 body corporate".

43  Regulation 10.2.36

Omit "Schedule 10D", substitute "Schedule 11".

44  Schedule 10D (second occurring) (heading)

Repeal the heading, substitute:



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