Coronavirus Economic Response Package Omnibus Act 2020 (22 of 2020)

Schedule 12   Temporary relief for financially distressed individuals and businesses

Part 1   Amendments relating to individuals in financial distress

Bankruptcy Regulations 1996

16   After regulation 4.02

Insert:

4.02AA Temporary increase to the statutory minimum and statutory period

(1) For the purposes of paragraph (a) of the definition of statutory minimum in subsection 5(1) of the Act, the amount prescribed is $20,000.

(2) For the purposes of paragraph (a) of the definition of statutory period in subsection 5(1) of the Act, the period prescribed is 6 months.

(3) This regulation is repealed at the end of the period of 6 months starting on the day this regulation commences.