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 2 Application of Part 2 of the Insolvency Practice Schedule (Bankruptcy) and related consequential amendments
Subdivision A Registering trustee
110 Applications for change of conditions under the old Act
If:
(a) a condition applies to an old Act registrant's practice as a registered trustee under section 155A, 155F or 155I of the old Act; and
(b) the old Act registrant has applied for the condition to be changed or removed under section 155E of the old Act before the commencement day; and
(c) a decision on the application has not been made before the commencement day under section 155F of the old Act;
the application is taken never to have been made and the Inspector-General must, on behalf of the Commonwealth, refund to the person an amount equal to the fee paid in relation to the application.
Note: The trustee could then apply under section 20-40 of the Insolvency Practice Schedule (Bankruptcy) for the condition to be varied or removed.
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