Insolvency Law Reform Act 2016 (11 of 2016)

Schedule 1   Amendments relating to the Insolvency Practice Schedule (Bankruptcy)

Part 2   Amendments consequential on the introduction of the Insolvency Practice Schedule (Bankruptcy)

Bankruptcy Act 1966

31   Subsection 74(5)

Repeal the subsection, substitute:

(1) If the proposal is accepted by a special resolution of creditors at a meeting held in accordance with the Insolvency Practice Rules, the bankruptcy is annulled, by force of this subsection, on the day the special resolution was passed.