Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Schedules............................................................................................ 3

Schedule 1--Amendments relating to the Insolvency Practice Schedule (Bankruptcy) 4

Part 1--Insolvency Practice Schedule (Bankruptcy)                                    4

Bankruptcy Act 1966                                                                                                  4

Part 2--Amendments consequential on the introduction of the Insolvency Practice Schedule (Bankruptcy)                                                                                                                            102

Bankruptcy Act 1966                                                                                              102

Bankruptcy (Estate Charges) Act 1997                                                               114

Part 3--Transition to the Insolvency Practice Schedule (Bankruptcy) 115

Division 1--Introduction                                                                                        115

Division 2--Application of Part 2 of the Insolvency Practice Schedule (Bankruptcy) and related consequential amendments                                                                                      116

Division 3--Application of Part 3 of the Insolvency Practice Schedule (Bankruptcy) and related consequential amendments                                                                                      127

Division 4--Administrative review                                                                       142

Division 5--Application of other consequential amendments                       143

Division 6--Regulations                                                                                         145

Schedule 2--Amendments relating to the Insolvency Practice Schedule (Corporations)              146

Part 1--Insolvency Practice Schedule (Corporations)                             146

Corporations Act 2001                                                                                           146

Part 2--Amendments consequential on the introduction of the Insolvency Practice Schedule (Corporations)                                                                                             265

Aged Care (Accommodation Payment Security) Act 2006                              265

Australian Securities and Investments Commission Act 2001                        265

Banking Act 1959                                                                                                    274

Bankruptcy Act 1966                                                                                              275

Carbon Credits (Carbon Farming Initiative) Act 2011                                   275

Cheques Act 1986                                                                                                    275

Commonwealth Serum Laboratories Act 1961                                                  276

Corporations (Aboriginal and Torres Strait Islander) Act 2006                   276

Corporations Act 2001                                                                                           278

Corporations (Review Fees) Act 2003                                                                 317

Cross-Border Insolvency Act 2008                                                                       318

Income Tax Assessment Act 1997                                                                          319

Insurance Act 1973                                                                                                 319

Life Insurance Act 1995                                                                                         320

Medical Indemnity Act 2002                                                                                 320

National Consumer Credit Protection Act 2009                                               322

National Greenhouse and Energy Reporting Act 2007                                   322

Paid Parental Leave Act 2010                                                                              323

Payment Systems and Netting Act 1998                                                              323

Private Health Insurance (Prudential Supervision) Act 2015                        323

Qantas Sale Act 1992                                                                                             324

Superannuation Industry (Supervision) Act 1993                                            324

Taxation Administration Act 1953                                                                       325

Tradex Scheme Act 1999                                                                                        325

Part 3--Transition to the Insolvency Practice Schedule (Corporations) 326

Australian Securities and Investments Commission Act 2001                        326

Corporations Act 2001                                                                                           329

Schedule 3--Other amendments                                                                               369

Part 1--Payments for property                                                                             369

Corporations Act 2001                                                                                           369

Part 2--Contravention of deed of company arrangement                     370

Corporations Act 2001                                                                                           370

Private Health Insurance (Prudential Supervision) Act 2015                        371

Part 3--Company's former name                                                                        372

Corporations Act 2001                                                                                           372

Part 4--Termination of deed of company arrangement                          373

Corporations Act 2001                                                                                           373

Part 5--Relation-back day                                                                                     377

Corporations Act 2001                                                                                           377

Part 6--Miscellaneous amendments                                                                  384

Corporations Act 2001                                                                                           384

Part 7--Application of amendments                                                                 388

Corporations Act 2001                                                                                           388

 

 

 

Insolvency Law Reform Act 2016

No. 11, 2016

 

An Act to amend the law in relation to personal and corporate insolvency, and for related purposes

[Assented to 29 February 2016]

The Parliament of Australia enacts: