Bankruptcy Legislation Amendment Act 2004 (80 of 2004)

Schedule 2   Amendments relating to compositions and schemes of arrangement

Bankruptcy Act 1966

12   Transitional - annulments

 

(1) For the purposes of this item, if a composition or scheme of arrangement under Division 6 of Part IV of the Bankruptcy Act 1966 was annulled before the commencement of this item, the annulment is a pre-commencement annulment .

      

(2) For the purposes of this item, if:

(a) an application is made before the commencement of this item under subsection 75(4) of the Bankruptcy Act 1966 for the annulment of a composition or scheme of arrangement; and

(b) as at the commencement of this item, proceedings in relation to that application have not been finally determined;

the application is a pre-commencement annulment application .

      

(3) Despite the repeals and amendments made by items 1, 2, 3, 7, 8, 9 and 10 of this Schedule and item 41 of Schedule 1, the Bankruptcy Act 1966 and regulations under that Act continue to apply, in relation to:

(a) a pre-commencement annulment; and

(b) a pre-commencement annulment application; and

(c) an annulment that results from a pre-commencement annulment application;

as if those repeals had not happened and those amendments had not been made.