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 3   Application of Part 3 of the Insolvency Practice Schedule (Bankruptcy) and related consequential amendments

Subdivision C   Remuneration and other benefits received by trustees

131   Payment for performance by third parties

Application of the Insolvency Practice Schedule (Bankruptcy)

(1) Section 60-26 of the Insolvency Practice Schedule (Bankruptcy) applies in relation to a trustee of a regulated debtor's estate under ongoing administration whether or not the trustee is appointed, or consents to act, before, on or after the commencement day.

(2) However, that section does not apply in relation to payments received before the commencement day.

Old Act continues to apply to payments received before commencement day

(3) Despite the repeal of section 162 of the old Act by this Schedule, subsection 162(6) continues to apply in relation to payments received before the commencement day.