Corporations Act 2001
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Hide history notePerson registered under the old Act immediately before the commencement day
1553(1)
If a person is registered as a liquidator, or as a liquidator of a specified body corporate, immediately before the commencement day, on the commencement day the person is taken to be registered as a liquidator under Subdivision B of Division 20 of the Insolvency Practice Schedule (Corporations).
Person registered but suspended under the old Act before the commencement day
1553(2)
If:
(a) a person is registered as a liquidator, or as a liquidator of a specified body corporate, before the commencement day; and
(b) that person ' s registration is suspended before the commencement day; and
(c) the period of the suspension does not expire before the commencement day;
the person is taken to be registered as a liquidator under Subdivision B of Division 20 of the Insolvency Practice Schedule (Corporations) on the commencement day, but the person ' s registration is taken to be suspended under the Insolvency Practice Schedule (Corporations) for a period that ends when the period of the suspension under the old Act would have ended.
Note: The old Act registrant could apply under Subdivision F of Division 40 of the Insolvency Practice Schedule (Corporations) to have the suspension lifted or shortened.
Circumstances in which person not taken to be registered
1553(3)
Despite subsections (1) and (2), a person mentioned in one of those subsections is not taken to be registered as a liquidator under Subdivision B of Division 20 of the Insolvency Practice Schedule (Corporations) on the commencement day if, at the beginning of that day:
(a) the person is an insolvent under administration; or
(b) the person is dead.
Meaning of old Act registrant
1553(4)
A person who is taken to be registered under Subdivision B of Division 20 of the Insolvency Practice Schedule (Corporations) because of this section is referred to as an old Act registrant .
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