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

Schedule 1   Restructuring of a company

Part 2   Consequential amendments

Corporations Act 2001

47   Paragraphs 553(1A)(a) and (b)

Repeal the paragraphs, substitute:

(a) both of the following are satisfied:

(i) the circumstances occur at a time when the company is under a deed of company arrangement;

(ii) the company is under the deed immediately before the resolution or court order that the company be wound up; or

(b) both of the following are satisfied:

(i) the circumstances occur at a time when the company is under restructuring;

(ii) the company is under restructuring immediately before the resolution or court order that the company be wound up; or

(c) both of the following are satisfied:

(i) the circumstances occur at a time when the company is under a restructuring plan;

(ii) the company is under the plan immediately before the resolution or court order that the company be wound up.