Insolvency Law Reform Act 2016 (11 of 2016)

Schedule 2   Amendments relating to the Insolvency Practice Schedule (Corporations)

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

Corporations Act 2001

194   Before section 600AA

Insert:

599 Appeals from decisions of receivers etc.

(1) A person aggrieved by any act, omission or decision of:

(a) a person administering a compromise, arrangement or scheme referred to in Part 5.1; or

(b) a controller, or a managing controller, of property of a corporation;

may appeal to the Court in respect of the act, omission or decision and the Court may confirm, reverse or modify the act or decision, or remedy the omission, as the case may be, and make such orders and give such directions as it thinks fit.

(2) Paragraph (1)(b) does not apply to a corporation that is an Aboriginal and Torres Strait Islander corporation.

Note: Similar provision is made in relation to Aboriginal and Torres Strait Islander corporations under section 576-10 of the Corporations (Aboriginal and Torres Strait Islander) Act 2006.