(1) This Act applies to proceedings under:
(a) the Bankruptcy Act 1966 ; or
(b) Chapter 5 (other than Parts 5.2 and 5.4A) of the Corporations Act 2001 , section 601CL of that Act and Schedule 2 to that Act;
commenced before, on or after the commencement of this Part.
(2) This Act applies to foreign proceedings commenced on or after the commencement of this Part.