Corporations Act 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS

PART 10.25 - TRANSITIONAL PROVISIONS RELATING TO THE INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)

Division 3 - Application of Part 3 of the Insolvency Practice Schedule (Corporations) and related consequential amendments

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Subdivision C - Remuneration and other benefits received by external administrators

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SECTION 1582 DUTIES OF ADMINISTRATORS RELATING TO REMUNERATION AND OTHER BENEFITS

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1582(1)
Section 60-20 of the Insolvency Practice Schedule (Corporations) applies in relation to an external administrator of an ongoing external administration of a company whether or not the administrator was appointed before, on or after the commencement day.

1582(2)
However, that section does not apply in relation to arrangements made before the commencement day.

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[ CCH Note 1: Regulation Sch 13, item [5] (which was effective 1 March 2017) provides that s 1582 is amended as follows:

Repeal the section, substitute:

1582 Duties of administrators relating to remuneration and other benefits

(1) Section 60-20 of the Insolvency Practice Schedule (Corporations) applies on and after 1 September 2017 in relation to an external administrator of an ongoing external administration of a company regardless of when the administrator was appointed.

(2) However, that section does not apply in relation to arrangements made before 1 September 2017.]

[ CCH Note 2: Corporations Regulations Sch 13, item [6] (effective 1 March 2017) provides that s 1582(1) is amended as follows:

After " applies " , insert " on and after 1 September 2017 " .]

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