Commonwealth Consolidated Acts Commonwealth Consolidated ActsNo. 24, 2008
Compilation No. 7
Compilation date: 18 December 2020
Includes amendments up to: Act No. 154, 2020
Registered: 25 January 2021
About this compilation
This compilation
This is a compilation of the Cross-Border Insolvency Act 2008 that shows the text of the law as amended and in force on 18 December 2020 (the compilation date).
The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.
Uncommenced amendments
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Legislation Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on the Legislation Register for the co mpiled law.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
Editorial changes
For more information about any editorial changes made in this compilation, see the endnotes.
Modifications
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on the Legislation Register for the compiled law.
Self-repealing provisions
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
Contents
Part 1--Preliminary
1 Short title
2 Commencement
3 Crown to be bound
Part 2--Model Law on Cross-Border Insolvency
6 Model Law to have force of law in Australia
7 References in Model Law to this State
8 Identifying Australian laws relating to insolvency
9 Entities that are not covered by the Model Law
10 Courts competent to perform functions under Model Law
11 Functions of the trustee (in bankruptcy proceedings) and the registered liquidator (in corporate insolvencies)
12 Access of foreign creditors to Australian insolvency proceedings
13 Application for recognition of foreign proceeding
14 Subsequent information
15 Relief that may be granted upon application for recognition of a foreign proceeding
16 Effects of recognition of a foreign main proceeding
17 Actions to avoid acts detrimental to creditors
18 Forms of cooperation
19 References to laws/law of this State and courts of this State
20 Application
Part 3--Interaction with other Acts
21 Interaction with the Bankruptcy Act 1966
22 Interaction with the Corporations Act 2001
Part 4--Regulations
23 Regulations
Schedule 1--Model Law on Cross-Border Insolvency of the United Nations Commission on International Trade Law
Endnotes
Endnote 1--About the endnotes
Endnote 2--Abbreviation key
Endnote 3--Legislation history
Endnote 4--Amendment history
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1--About the endnotes
Endnote 2--Abbreviation key
Endnote 3--Legislation history
Endnote 4--Amendment history
Abbreviation key--Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.
Legislation history and amendment history--Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.
Editorial changes
The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.
If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.
Misdescribed amendments
A misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation "(md)" added to the details of the amendment included in the amendment history.
If a misdescribed amendment cannot be given effect as intended, the abbreviation "(md not incorp)" is added to the details of the amendment included in the amendment history.
ad = added or inserted | o = order(s) |
am = amended | Ord = Ordinance |
amdt = amendment | orig = original |
c = clause(s) | par = paragraph(s)/subparagraph(s) |
C[x] = Compilation No. x | /sub-subparagraph(s) |
Ch = Chapter(s) | pres = present |
def = definition(s) | prev = previous |
Dict = Dictionary | (prev ... ) = previously |
disallowed = disallowed by Parliament | Pt = Part(s) |
Div = Division(s) | r = regulation(s)/rule(s) |
ed = editorial change | reloc = relocated |
exp = expires/expired or ceases/ceased to have | renum = renumbered |
effect | rep = repealed |
F = Federal Register of Legislation | rs = repealed and substituted |
gaz = gazette | s = section(s)/subsection(s) |
LA = Legislation Act 2003 | Sch = Schedule(s) |
Sdiv = Subdivision(s) | |
(md) = misdescribed amendment can be given | SLI = Select Legislative Instrument |
effect | SR = Statutory Rules |
(md not incorp) = misdescribed amendment | Sub-Ch = Sub-Chapter(s) |
cannot be given effect | SubPt = Subpart(s) |
mod = modified/modification | underlining = whole or part not |
No. = Number(s) | commenced or to be commenced |
Endnote 3--Legislation history
Act | Number and year | Assent | Commencement | Application, saving and transitional provisions | |
Cross-Border Insolvency Act 2008 | 24, 2008 | 26 May 2008 | s 5-23 and Sch 1: 1 July 2008 (s 2(1) items 2, 3) |
| |
8, 2010 | 1 Mar 2010 | Sch 5 (item 32): 1 Mar 2010 (s 2(1) item 31) | -- | ||
46, 2011 | 27 June 2011 | Sch 2 (item 467) and Sch 3 (items 10, 11): 27 Dec 2011 (s 2(1) items 3, 12) | Sch 3 (items 10, 11) | ||
Acts and Instruments (Framework Reform) (Consequential Provisions) Act 2015 | 126, 2015 | 10 Sept 2015 | Sch 1 (item 159): 5 Mar 2016 (s 2(1) item 2) | -- | |
11, 2016 | 29 Feb 2016 | Sch 2 (items 268-273): 1 Mar 2017 (s 2(1) item 5) | -- | ||
33, 2016 | 23 Mar 2016 | Sch 5 (items 30-32): 1 July 2016 (s 2(1) item 7) | -- | ||
154, 2020 | 17 Dec 2020 | Sch 2 (items 80-85): 18 Dec 2020 (s 2(1) item 6) | -- | ||
Provision affected | How affected |
Part 1 |
|
s 4..................... | am No 33, 2016 |
| rep No 154, 2020 |
Part 2 |
|
s 5..................... | am No 8, 2010; No 33, 2016; No 154, 2020 |
s 7..................... | am No 46, 2011; No 33, 2016; No 154, 2020 |
s 8..................... | am No 11, 2016 |
s 9..................... | am No 126, 2015 |
s 13.................... | am No 11, 2016 |
s 14.................... | am No 11, 2016 |
s 19.................... | am No 154, 2020 |
s 20.................... | am No 11, 2016 |
Part 3 |
|
s 22.................... | am No 11, 2016 |
[1] A State where certain functions relating to insolvency proceedings have been conferred upon government-appointed officials or bodies might wish to include in article 4 or elsewhere in chapter I the following provision:
"Nothing in the present Law affects the provisions in force in this State governing the authority of [insert the title of the government-appointed person or body]."
[2] The enacting State may wish to consider the following alternative wording to replace paragraph 2 of article 13:
"2. Paragraph 1 of the present article does not affect the ranking of claims in a proceeding under [ identify laws of the enacting State relating to insolvency] or the exclusion of foreign tax and social security claims from such a proceeding. Nevertheless, the claims of foreign creditors other than those concerning tax and social security obligations shall not be ranked lower than [ identify the class of general non-preference claims, while providing that a foreign claim is to be ranked lower than the general non-preference claims if an equivalent local claim (e.g. claim for a penalty or deferred-payment claim) has a rank lower than the general non-preference claims ]."