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 E   Information

145   Audit of administration books

Application of the Insolvency Practice Schedule (Bankruptcy)

(1) Sections 70-15 to 70-25 of the Insolvency Practice Schedule (Bankruptcy) apply to books relating to an ongoing administration of a regulated debtor's estate whether or not the books are kept under a provision of the old Act or of the Insolvency Practice Schedule (Bankruptcy).

Continuation of audits under old Act

(2) Despite the repeal of section 175 of the old Act by this Schedule, audits may be continued under that section in relation to accounts under section 173 as if the old Act continued to apply.

Priority payments

(3) Despite the amendment of paragraph 109(1)(a) of the old Act made by this Schedule, that section continues to apply in relation to the payment of costs of audits under section 175 of the old Act as if that amendment had not been made.