Treasury Laws Amendment (2021 Measures No. 5) Act 2021 (127 of 2021)

Schedule 2   Consequential and transitional matters arising from corporate insolvency reforms

Corporations Act 2001

35   In the appropriate position in Chapter 10

Insert:

Part 10.59 - Application provisions relating to the Treasury Laws Amendment (2021 Measures No. 5) Act 2021

1686 Definitions

In this Part:

amending Schedule means Schedule 2 to the Treasury Laws Amendment (2021 Measures No. 5) Act 2021.

1686A Qualified privilege for restructuring practitioners

Section 456LA, as inserted by the amending Schedule, applies in relation to a statement made before, on or after the commencement of that Schedule.

1686B Protection of persons dealing with restructuring practitioner

Section 456LB, as inserted by the amending Schedule, applies in relation to a company that is under restructuring, or a company that makes a restructuring plan, before, on or after the commencement of that Schedule.

1686C Eligibility criteria for simplified liquidation

The amendment of paragraph 500AA(1)(g) by the amending Schedule applies to a company if a triggering event occurs in relation to the company before, on or after the commencement of that Schedule.

1686D Powers and duties of liquidator

The amendment of subsection 506(1A) by the amending Schedule applies in relation to a liquidator appointed before, on or after the commencement of that Schedule.

1686E Withdrawal of market bids

The amendment of subsection 652C(2) by the amending Schedule applies in relation to restructuring practitioners appointed, or restructuring plans made, before, on or after the commencement of that Schedule.