Corporations Act 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.9 - TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (INSOLVENCY) ACT 2007  

SECTION 1482   SCHEDULE 3 TO THE AMENDING ACT (IMPROVING REGULATION OF INSOLVENCY PRACTITIONERS)  

1482(1)   [ Liquidators]  

The amendment made by item 7 of Schedule 3 to the amending Act applies to an application for registration if the application was made on or after the day on which that item commences.

1482(2)   [ Statements by liquidators]  

Despite the amendment made by item 9 of Schedule 3 to the amending Act, subsection 1288(3) continues to apply, in relation to a 3-year period ending before the day on which that item commences, as if that amendment had not been made.

1482(3)   [ Statements by newly registered liquidators]  

Subsection 1288(3) as amended by item 9 of Schedule 3 to the amending Act applies as follows:

(a) in the case of a person whose first 12 months of registration ends on or after the day on which that item commences - that subsection applies in relation to:

(i) the person ' s first 12 months of registration; and

(ii) each subsequent period of 12 months;

(b) in the case of a person whose first 12 months of registration ended before the day on which that item commences - that subsection applies as if the reference in paragraph 1288(3)(a) to the day on which the person ' s registration begins (the initial registration day ) were a reference to the last anniversary of the initial registration day that occurred before the day on which that item commences.

For this purpose, a person ' s first 12 months of registration is the period of 12 months beginning on the day on which the person ' s registration begins.

1482(4)   [ Notice of Board decision]  

The amendment made by item 12 of Schedule 3 to the amending Act applies in relation to a decision made on or after the day on which that item commences.