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 G   Committees of inspection

157   Membership of continued committees

Members of continued committee

(1) The members of a continued committee are the members appointed to the committee under section 70 of the old Act.

Continued application of the old Act to members of continued committees

(2) If a person is a member of a continued committee, then despite the repeal of subsections 70(3) and (4) and section 71 of the old Act by this Schedule, those provisions continue to apply in relation to the person.

Application of the Insolvency Practice Schedule (Bankruptcy)

(3) The following provisions do not apply in relation to members of a continued committee:

(a) sections 80-15 to 80-25 of the Insolvency Practice Schedule (Bankruptcy);

(b) Insolvency Practice Rules made under section 80-30 of the Insolvency Practice Schedule (Bankruptcy) that relate to membership of a committee of inspection.

Note: However, the committee could dissolve and the members could form a new committee to which these provisions would then apply.