Corporations Amendment (Corporate Insolvency Reforms) Act 2020 (130 of 2020)

Schedule 1   Restructuring of a company

Part 2   Consequential amendments

Corporations Act 2001

19   Section 91 (at the end of the table)

Add:

16

in the case of a company:

(a) the Court orders under section 233, 459A, 459B or 461 that the company be wound up; and

(b) immediately before the order was made, the company was under restructuring; and

(c) the order was made in response to an application filed at or after the beginning of the restructuring;

the section 513CA day in relation to the restructuring.

17

in the case of a company:

(a) the Court orders under section 233, 459A, 459B or 461 that the company be wound up; and

(b) immediately before the order was made, the company was under restructuring; and

(c) the order was made in response to an application filed before the beginning of the restructuring;

the day on which that application was filed.

18

in the case of a company:

(a) the Court orders under section 233, 459A, 459B or 461 that the company be wound up; and

(b) immediately before the order was made, a restructuring plan had been made by the company and had not yet terminated; and

(c) the order was made in response to an application filed at or after the beginning of the restructuring that ended when the plan was made;

the section 513CA day in relation to that restructuring.

19

in the case of a company:

(a) the Court orders under section 233, 459A, 459B or 461 that the company be wound up; and

(b) immediately before the order was made, a restructuring plan had been made by the company and had not yet terminated; and

(c) the order was made in response to an application filed before the beginning of the restructuring that ended when the plan was made;

the day on which that application was filed.

20

in the case of a company:

(a) the company resolves by special resolution that it be wound up voluntarily; and

(b) immediately before the resolution was passed, the company was under restructuring; and

(c) no application for an order under section 233, 459A, 459B or 461 that the company be wound up was filed before the beginning of the restructuring;

the section 513CA day in relation to the restructuring

21

in the case of a company:

(a) the company resolves by special resolution that it be wound up voluntarily; and

(b) immediately before the resolution was passed, the company was under restructuring; and

(c) an application for an order under section 233, 459A, 459B or 461 that the company be wound up was filed before the beginning of the restructuring, but that application was dismissed or withdrawn before the restructuring commenced;

the section 513CA day in relation to the restructuring.

22

in the case of a company:

(a) the company resolves by special resolution that it be wound up voluntarily; and

(b) immediately before the resolution was passed, the company was under restructuring; and

(c) an application for an order under section 233, 459A, 459B or 461 that the company be wound up was filed before the beginning of the restructuring; and

(d) that application had not been dismissed or withdrawn before the restructuring commenced;

the day on which that application was filed.

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any other case applies;

the day on which the winding up is taken, because of Division 1A of Part 5.6, to have begun.