Corporations Act 2001
The Governor-General may make regulations prescribing matters of a transitional nature (including prescribing any saving or application provisions) relating to the amendments and repeals made by Schedule 2 to the Insolvency Law Reform Act 2016 .
1634(2)
The regulations may provide that certain provisions of Schedule 2 to the Insolvency Law Reform Act 2016 are taken to be modified as set out in the regulations. Those provisions then have effect as if they were so modified.
1634(3)
The provisions of Schedule 2 to the Insolvency Law Reform Act 2016 that provide for regulations to deal with matters do not limit each other.
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CCH Note:
Part 10.25 of the Corporations Regulations (which were effective 1 March 2017) provides:
ongoing external administration
of a company means an external administration of a company that started before 1 September 2017 and ends after that day.
SECTION 10.25.01 TRANSITION TO PART 3 OF THE INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)
]
10.25.01(1)
For the purposes of subsection 1634(1) of the Act, Part 10.25 of Chapter 10 of the Act applies as if the references in Divisions 3 and 5 of that Part to the commencement day were a reference to 1 September 2017.
10.25.01(2)
For the purposes of subsection 1634(1) of the Act, Part 10.25 of Chapter 10 of the Act applies as if the definition of
ongoing external administration
in section 1551 of the Act were omitted and the following definition were substituted for the purposes of Divisions 3 and 5 of that Part:
10.25.01(3)
For the purposes of subsection 1634(2) of the Act, Part 10.25 of Chapter 10 of the Act applies as if Divisions 1, 2 and 3 of that Part were modified as set out in Schedule 13.
SECTION 10.25.02 APPLICATION OF CERTAIN AMENDMENTS RELATING TO THE ENACTMENT OF THE INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)
10.25.02(1)
This section is made for the purposes of subsection 1634(1) of the Act.
10.25.02(2)
The amendments of sections 546-10 and 546-20 of the
Corporations (Aboriginal and Torres Strait Islander) Act 2006
made by Part 2 of Schedule 2 to the
Insolvency Law Reform Act 2016
apply in relation to deregistrations that occur on or after 1 September 2017.
10.25.02(3)
The amendments made by the following items of Part 2 of Schedule 2 to the
Insolvency Law Reform Act 2016
apply in relation to external administrations on and after 1 September 2017:
10.25.02(4)
The amendments made by items 89 and 90 of Part 2 of Schedule 2 to the
Insolvency Law Reform Act 201
6 apply in relation to Part 5.1 bodies on and after 1 September 2017.
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