Document ID: chunk:federal_register_of_legislation:C2016A00011:clause:2_131
Version: federal_register_of_legislation:C2016A00011
Segment Type: clause
Provision Reference: sch 2 cl 131
Character Range: 195130–195848

131  Payment for performance by third parties

Application of the Insolvency Practice Schedule (Bankruptcy)
(1) Section 60‑26 of the Insolvency Practice Schedule (Bankruptcy) applies in relation to a trustee of a regulated debtor's estate under ongoing administration whether or not the trustee is appointed, or consents to act, before, on or after the commencement day.
(2) However, that section does not apply in relation to payments received before the commencement day.

Old Act continues to apply to payments received before commencement day
(3) Despite the repeal of section 162 of the old Act by this Schedule, subsection 162(6) continues to apply in relation to payments received before the commencement day.