Corporations Amendment (Corporate Insolvency Reforms) Act 2020 (Cth)

Corporations Amendment (Corporate Insolvency Reforms) Act 2020

No. 130, 2020

An Act to amend the law in relation to insolvency, and for related purposes

Contents 1 Short title 2 Commencement 3 Schedules Schedule 1—Restructuring of a company Part 1—Core provisions Corporations Act 2001 Part 2—Consequential amendments Banking Act 1959 Corporations Act 2001 Insurance Act 1973 Life Insurance Act 1995 Payment Systems and Netting Act 1998 Personal Property Securities Act 2009 Taxation Administration Act 1953 Schedule 2—Temporary relief for companies seeking a restructuring practitioner Corporations Act 2001 Schedule 3—Simplified liquidation Bankruptcy Act 1966 Corporations Act 2001 Schedule 4—Virtual meetings and electronic communications Part 1—Definitions relating to virtual meetings and electronic communications Corporations Act 2001 Part 2—Provisions relating to insolvency Corporations Act 2001

Corporations Amendment (Corporate Insolvency Reforms) Act 2020 No. 130, 2020

An Act to amend the law in relation to insolvency, and for related purposes

[Assented to 15 December 2020]

The Parliament of Australia enacts:

1 Short title This Act is the Corporations Amendment (Corporate Insolvency Reforms) Act 2020.

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 Provisions Commencement Date/Details 1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table The day this Act receives the Royal Assent. 15 December 2020 2. Schedule 1 1 January 2021. 1 January 2021 3. Schedule 2 Immediately after the commencement of the provisions covered by table item 2. 1 January 2021 4. Schedule 3 1 January 2021. 1 January 2021 5. Schedule 4 The day after this Act receives the Royal Assent. 16 December 2020