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

Schedule 1   Restructuring of a company

Part 2   Consequential amendments

Corporations Act 2001

54   After subsection 556(1AA)

Insert:

(1AAA) Paragraph (1)(a) does not apply to expenses:

(a) incurred by the restructuring practitioner for a company; and

(b) relating to a debt or claim admissible to proof under paragraph 553(1A)(b);

unless the restructuring practitioner is personally liable for the expenses.

(1AAB) Paragraph (1)(a) does not apply to expenses:

(a) incurred by the restructuring practitioner for a restructuring plan; and

(b) relating to a debt or claim admissible to proof under paragraph 553(1A)(c);

unless the restructuring practitioner is personally liable for the expenses.