Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 (6 of 2020)

Schedule 1   Phoenixing offences and other rules about property transfers to defeat creditors

Part 1   Main amendments of the Corporations Act 2001

Corporations Act 2001

73   Paragraph 588U(1)(c)

Repeal the paragraph, substitute:

(c) the company's liquidator has intervened in an application for a civil penalty order against a person relating to:

(i) a contravention of subsection 588G(2) relating to the incurring of the debt; or

(ii) a contravention of subsection 588GAB(2) or 588GAC(2) relating to the disposition; or

(d) the company's liquidator has requested ASIC to make an order under subsection 588FGAA(3) relating to the disposition; or

(e) ASIC has made an order under subsection 588FGAA(3) relating to the disposition.