Corporations Act 2001
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Hide history noteCommittees appointed under old Act taken to be committee of inspection
1608(1)
Subsection (2) applies if there is, in relation to the external administration of a company:
(a) a committee of creditors validly appointed under section 436E of the old Act; or
(b) a committee of inspection validly appointed under section 548 of the old Act; or
(c) a committee of inspection validly appointed under section 548A of the old Act.
1608(2)
On and after the day specified in subsection (3), the committee (the continued committee ) is taken for the purposes of the Insolvency Practice Schedule (Corporations) to be:
(a) in the case of a committee appointed under section 436E or 548 of the old Act - a committee of inspection established under section 80-10 of the Insolvency Practice Schedule (Corporations) in relation to the external administration of the company; and
(b) in the case of a committee appointed under section 548A of the old Act - a committee of inspection established under section 80-26 of the Insolvency Practice Schedule (Corporations) in relation to a pooled group of which the company is a member.
1608(3)
For the purposes of subsection (2), the day is:
(a) in the case of a committee appointed on or before the commencement day - the commencement day; and
(b) in the case of a committee appointed on a day that is after the commencement day in accordance with a provision of this section - that later day.
Old Act continues to apply to certain meetings
1608(4)
If:
(a) because of the operation of section 436E , 548 or 548A (the repealed section ) of the old Act before the commencement day, the administrator or liquidator of a company is required to convene a meeting; and
(b) as at the commencement day, the meeting has not been convened;
then (despite their repeal by Schedule 2 to the Insolvency Law Reform Act 2016 ) the repealed sections of the old Act continue to apply on and after the commencement day in relation to the meeting.
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