Revised Explanatory Memorandum
(Circulated by authority of the Attorney-General, the Honourable Philip Ruddock MP)Section 3 - Notes on sections
Section 1 - Short Title
22. The Bankruptcy Legislation Amendment (Anti-avoidance) Bill 2006 (the Bill) proposes amendments to the Bankruptcy Act 1966 (the Act). By proposed section 1, when the Bill has been enacted, it will be known as the Bankruptcy Legislation Amendment (Anti-avoidance) Act 2006 .
Section 2 - Commencement
23. In accordance with the table in proposed section 2, proposed sections 1 to 3 and anything in the Bill not elsewhere covered in that table will commence on the day which the Bill receives the Royal Assent. Proposed Schedule 1 will commence the 28th day after the day on which the Bill receives the Royal Assent.
Section 3 - Amendments
24. Proposed section 3 is a drafting device to allow all the amendments proposed to be made to the Act to be set out in a Schedule. The items in the Schedule will amend the Act and will have effect according to their terms. Notes on the Schedule items follow.