Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 (6 of 2020)
Schedule 1 Phoenixing offences and other rules about property transfers to defeat creditors
Part 1 Main amendments of the Corporations Act 2001
Corporations Act 2001
67 Paragraph 588S(a)
Repeal the paragraph, substitute:
(a) stating that the creditor intends to begin proceedings under section 588M relating to:
(i) the incurring by the company of a specified debt that is owed to the creditor; or
(ii) a specified disposition by the company of property, because of which (and the company's insolvency) the creditor has suffered loss or damage; and
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