Corporations Amendment (Corporate Insolvency Reforms) Act 2020 (130 of 2020)

Schedule 1   Restructuring of a company

Part 2   Consequential amendments

Corporations Act 2001

100   After section 75-20 of Schedule 2

Insert:

75-21 Restructuring and restructuring plans

(1) Sections 75-10, 75-15 and 75-20 do not apply to:

(a) a company under restructuring; or

(b) a company that has made a restructuring plan that has not yet terminated.

(2) However, the restructuring practitioner for a company, or for a restructuring plan, may convene a meeting of the creditors if the restructuring practitioner is satisfied that:

(a) there are exceptional circumstances; and

(b) it is in the interests of the creditors to do so.