Insolvency Law Reform Act 2016 (11 of 2016)

Schedule 1   Amendments relating to the Insolvency Practice Schedule (Bankruptcy)

Part 3   Transition to the Insolvency Practice Schedule (Bankruptcy)

Division 2   Application of Part 2 of the Insolvency Practice Schedule (Bankruptcy) and related consequential amendments

Subdivision A   Registering trustee

110   Applications for change of conditions under the old Act

If:

(a) a condition applies to an old Act registrant's practice as a registered trustee under section 155A, 155F or 155I of the old Act; and

(b) the old Act registrant has applied for the condition to be changed or removed under section 155E of the old Act before the commencement day; and

(c) a decision on the application has not been made before the commencement day under section 155F of the old Act;

the application is taken never to have been made and the Inspector-General must, on behalf of the Commonwealth, refund to the person an amount equal to the fee paid in relation to the application.

Note: The trustee could then apply under section 20-40 of the Insolvency Practice Schedule (Bankruptcy) for the condition to be varied or removed.