Corporations Act 2001
View history note
Hide history noteApplication of new section 198G
1585(1)
Section 198G (as inserted by Schedule 2 to the Insolvency Law Reform Act 2016 ) applies in relation to an exercise of power or a performance of a function that occurs on or after the commencement day.
Approval under old Act continues to have effect
1585(2)
If, under subsection 499(4) of the old Act, a committee of inspection or the company ' s creditors give approval for a director of the company to continue to perform or exercise the director ' s powers or functions, subsections 198G(1) and (2) (as inserted by Schedule 2 to the Insolvency Law Reform Act 2016 ) do not apply in relation to the director.
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