Coronavirus Economic Response Package Omnibus Act 2020 (22 of 2020)

Schedule 12   Temporary relief for financially distressed individuals and businesses

Part 1   Amendments relating to individuals in financial distress

Bankruptcy Act 1966

1   Subsection 5(1)

Insert:

default period means:

(a) if a period longer than 21 days is prescribed - the prescribed period; or

(b) otherwise - 21 days.

statutory minimum means:

(a) if an amount greater than $5,000 is prescribed - the prescribed amount; or

(b) otherwise - $5,000.

statutory period means:

(a) if a period longer than 21 days is prescribed - the prescribed period; or

(b) otherwise - 21 days.