Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 (6 of 2020)

Schedule 1   Phoenixing offences and other rules about property transfers to defeat creditors

Part 1   Main amendments of the Corporations Act 2001

Corporations Act 2001

23   Before subsection 588FG(2)

Insert:

If transaction entered into for valuable consideration in good faith without grounds for suspecting insolvency