Corporations Amendment (Corporate Insolvency Reforms) Act 2020 (130 of 2020)

Schedule 4   Virtual meetings and electronic communications

Part 2   Provisions relating to insolvency

Corporations Act 2001

20   In the appropriate position in Chapter 10

Insert:

Part 10.53 - Application and transitional provisions relating to meetings and communications under the Corporations Amendment (Corporate Insolvency Reforms) Act 2020

1680 Definitions

In this Part:

commencement day means the day on which Part 2 of Schedule 4 to the Corporations Amendment (Corporate Insolvency Reforms) Act 2020 commences.

1680A Application of COVID-19 instrument

The modifications of this Act made by the Corporations (Coronavirus Economic Response) Determination (No. 3) 2020 do not apply in relation to:

(a) a meeting of a committee convened under Part 2 of Schedule 2; or

(b) a meeting concerning one or more companies under external administration;

that is held on or after the commencement day.

1680B Validation of things done under COVID-19 instruments

(1) This item applies if, before the commencement day:

(a) a thing is done in accordance with:

(i) the Corporations (Coronavirus Economic Response) Determination (No. 1) 2020; or

(ii) the Corporations (Coronavirus Economic Response) Determination (No. 3) 2020; and

(b) the thing done would, apart from this item, be invalid or ineffective because it did not satisfy the requirements of this Act.

(2) The thing done is as valid and effective, and is taken always to have been as valid and effective, as it would have been had the thing done satisfied the requirements of this Act.