Document ID: chunk:federal_register_of_legislation:F2022C01140:body:0:p4
Version: federal_register_of_legislation:F2022C01140
Segment Type: other
Provision Reference: 
Character Range: 14172–18411

of reviewing liquidator by creditors etc.              63
             90‑7.................Limits on reviewing remuneration, costs and expenses              63
             90‑12..............Notice to be given if ASIC appoints a reviewing liquidator              63
             90‑18......Declaration of relevant relationships of proposed reviewing liquidator              63
             90‑22........................Powers and duties of reviewing liquidators              64
             90‑24.............................Reporting by reviewing liquidators              65
Part 5—Transitional matters................................................66
          Division 110—Transitional matters relating to the Insolvency Practice Rules (Corporations) Amendment (Restricting Related Creditor Voting Rights) Rules 2018              66
             110‑1.................Meeting procedures in relation to creditors who have been assigned debts…              ..66
             110‑2.....Voting procedures in relation to creditors who have been assigned debts              ……..66
          Division 115—Transitional matters relating to Schedule 1 to the Insolvency Practice Rules (Corporations) Amendment (Corporate Insolvency Reforms) Rules 2020              67
             115‑1.....Application of amendments relating to liquidator registration conditions              67
          Division 120—Transitional matters relating to Schedule 2 to the Insolvency Practice Rules (Corporations) Amendment (Corporate Insolvency Reforms) Rules 2020              68
             120‑1.............................................Definitions              68
             120‑5................................Application—virtual meetings.              68
             120‑10.................Application—recording and keeping of information              68
          Division 125—Transitional matters relating to Schedule 1 to the Insolvency Practice Rules (Corporations) Amendment (Virtual Meetings and Electronic Communication) Rules 2022              69
             125‑1.............................................Definitions              69
             125‑5................................Application—virtual meetings              69
             125‑10...........................Application—keeping of information              69

          Endnotes  70
              Endnote 1 — About the endnotes 70
              Endnote 2 — Abbreviation key 71
              Endnote 3 — Legislation history 72
              Endnote 4 — Amendment history 73

       Part 1—Introduction

       Division 1—Introduction

       1‑1  Name

         This instrument is the Insolvency Practice Rules (Corporations) 2016.

       1‑10  Authority

         This instrument is made under the Corporations Act 2001.

       Division 5—Definitions

       5‑5  The Dictionary

            Note: A number of expressions used in this instrument are defined in section 9 of the Act and section 5‑5 of Schedule 2 to the Act.

         In this instrument:

       Act means the Corporations Act 2001.

       ARITA means the Australian Restructuring Insolvency and Turnaround Association, ACN 002 472 362.

       current, in relation to the registration of a person as a liquidator: see section 5‑10.

       disciplinary action, in relation to a person who is registered as a liquidator, means:
           (a) any action taken by ASIC in relation to the person under Division 40 of the Insolvency Practice Schedule (Corporations), other than:
              (i) the giving of a direction under subsection 40‑10(2) of the Schedule in relation to information that ASIC reasonably suspects is incomplete or incorrect; or
              (ii) the giving of a notice under section 40‑40 of the Schedule (a show‑cause notice); or
           (b) the suspension or cancellation, or deemed suspension or cancellation, of the registration of the person as a liquidator, or as a liquidator of a specified body corporate, under the old Act; or
           (c) any action taken in respect of the person as a liquidator, or as a liquidator of a specified body corporate, under paragraph 1292(9)(a), (b) or (c) of the old Act.

       Insolvency Practice Schedule (Corporations)