Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 1602

Application of the Insolvency Practice Schedule (Corporations)

  (1)   Section   75 - 15 of the Insolvency Practice Schedule (Corporations) does not apply in relation to:

  (a)   directions given before the commencement day; or

  (b)   resolutions passed before the commencement day.

Old Act continues to apply in relation to resolutions for voluntary winding up passed before commencement day

  (2)   Despite their repeal by Schedule   2 to the Insolvency Law Reform Act 2016 :

  (a)   sections   497 and 498 of the old Act continue to apply on and after the commencement day in relation to a resolution for voluntary winding up that is passed before the commencement day; and

  (b)   subsection   477(4) of the old Act continues to apply on and after the commencement day if a meeting of creditors has not been held under section   497 of the old Act in relation to a voluntary winding up a resolution for which is passed before the commencement day.