Corporations Act 2001
CHAPTER 10
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TRANSITIONAL PROVISIONS
PART 10.25
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TRANSITIONAL PROVISIONS RELATING TO THE INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)
Division 3
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Application of Part 3 of the Insolvency Practice Schedule (Corporations) and related consequential amendments
Subdivision C
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Remuneration and other benefits received by external administrators
SECTION 1582
DUTIES OF ADMINISTRATORS RELATING TO REMUNERATION AND OTHER BENEFITS
1582(1)
Section 60-20 of the Insolvency Practice Schedule (Corporations) applies in relation to an external administrator of an ongoing external administration of a company whether or not the administrator was appointed before, on or after the commencement day.
1582(2)
However, that section does not apply in relation to arrangements made before the commencement day.
Repeal the section, substitute:
(1) Section 60-20 of the Insolvency Practice Schedule (Corporations) applies on and after 1 September 2017 in relation to an external administrator of an ongoing external administration of a company regardless of when the administrator was appointed.
(2) However, that section does not apply in relation to arrangements made before 1 September 2017.]
After
"
applies
"
, insert
"
on and after 1 September 2017
"
.]
View history note
Hide history noteSection 60-20 of the Insolvency Practice Schedule (Corporations) applies in relation to an external administrator of an ongoing external administration of a company whether or not the administrator was appointed before, on or after the commencement day.
1582(2)
However, that section does not apply in relation to arrangements made before the commencement day.
[ CCH Note 1: Regulation Sch 13, item [5] (which was effective 1 March 2017) provides that s 1582 is amended as follows:
1582 Duties of administrators relating to remuneration and other benefits
[ CCH Note 2: Corporations Regulations Sch 13, item [6] (effective 1 March 2017) provides that s 1582(1) is amended as follows:
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