Corporations Act 2001
CHAPTER 10
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TRANSITIONAL PROVISIONS
PART 10.25
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TRANSITIONAL PROVISIONS RELATING TO THE INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)
Division 3
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Application of Part 3 of the Insolvency Practice Schedule (Corporations) and related consequential amendments
Subdivision B
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General rules for Part 3
SECTION 1579
APPLICATION OF PART 3 OF THE INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)
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GENERAL RULES
New external administrations
1579(1)
Part 3 of the Insolvency Practice Schedule (Corporations) applies in relation to a new external administration of a company.
Ongoing external administrations
1579(2)
Part 3 of the Insolvency Practice Schedule (Corporations) applies in relation to an ongoing external administration of a company in accordance with this Division.
Repeal the section, substitute:
(1) Part 3 of the Insolvency Practice Schedule (Corporations) applies in relation to an external administration of a company that starts on or after 1 September 2017.
(2) Part 3 of the Insolvency Practice Schedule (Corporations) applies in relation to an ongoing external administration of a company in accordance with this Division.]
View history note
Hide history noteNew external administrations
1579(1)
Part 3 of the Insolvency Practice Schedule (Corporations) applies in relation to a new external administration of a company.
Ongoing external administrations
1579(2)
Part 3 of the Insolvency Practice Schedule (Corporations) applies in relation to an ongoing external administration of a company in accordance with this Division.
[ CCH Note: Regulation Sch 13, item [4] (which was effective 1 March 2017) provides that s 1579 is amended as follows:
1579 Application of Part 3 of the Insolvency Practice Schedule (Corporations) - general rules
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