Corporations Amendment (Insolvency) Act 2007 (Cth)

Corporations Amendment (Insolvency) Act 2007

No. 132, 2007

An Act to amend the Corporations Act 2001, and for other purposes

Contents 1 Short title 2 Commencement 3 Schedule(s)

Schedule 1—Improving outcomes for creditors

Part 1—Enhancing protection of employee entitlements Corporations Act 2001 Superannuation Guarantee (Administration) Act 1992

Part 2—Better informing creditor decisions Corporations Act 2001

Part 3—Streamlining external administration Corporations Act 2001

Part 4—Facilitating pooling in external administration Corporations Act 2001

Schedule 2—Deterring corporate misconduct Australian Securities and Investments Commission Act 2001 Corporations Act 2001

Schedule 3—Improving regulation of insolvency practitioners Corporations Act 2001

Schedule 4—Fine‑tuning voluntary administration

Part 1—General Corporations Act 2001

Part 2—Rights to property during administration Corporations Act 2001

Part 3—Liquidation following administration Corporations Act 2001

Schedule 5—Miscellaneous Australian Securities and Investments Commission Act 2001 Corporations Act 2001

Schedule 6—Transitional Corporations Act 2001

Corporations Amendment (Insolvency) Act 2007

No. 132, 2007

An Act to amend the Corporations Act 2001, and for other purposes

[Assented to 20 August 2007]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Corporations Amendment (Insolvency) Act 2007.

2 Commencement

(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information Column 1 Column 2 Column 3 Provision(s) Commencement Date/Details 1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table The day on which this Act receives the Royal Assent. 20 August 2007 2. Schedule 1, items 1 to 48 A single day to be fixed by Proclamation. 31 December 2007 However, if any of the provision(s) do not commence within the period of 6 months beginning on the day on which this Act receives the Royal Assent, they commence on the first day after the end of that period. (see F2007L03798) 3. Schedule 1, items 49 and 50 On the first day after the end of the period of 6 months beginning on the day on which the provision(s) covered by table item 2 commence. 1 July 2008 4. Schedule 1, items 51 to 120 At the same time as the provision(s) covered by table item 2. 31 December 2007 5. Schedule 1, item 121 At the same time as the provision(s) covered by table item 3. 1 July 2008 6. Schedule 1, items 122 to 133 At the same time as the provision(s) covered by table item 2. 31 December 2007 7. Schedule 2, items 1 to 10 At the same time as the provision(s) covered by table item 2. 31 December 2007 8. Schedule 2, item 11 At the same time as the provision(s) covered by table item 3. 1 July 2008 9. Schedule 2, item 12 At the same time as the provision(s) covered by table item 2. 31 December 2007 10. Schedules 3 to 6 At the same time as the provision(s) covered by table item 2. 31 December 2007