Document ID: chunk:federal_register_of_legislation:C2004A01314:clause:1_4
Version: federal_register_of_legislation:C2004A01314
Segment Type: clause
Provision Reference: sch 1 cl 4
Character Range: 2825–4769

4  Transitional

(1) In this item:
post‑commencement composition means a composition that was accepted after the commencement of this item by a special resolution of a meeting of creditors under section 204 of the Bankruptcy Act 1966 as that section continues to apply because of item 213 of Schedule 1 to the Bankruptcy Legislation Amendment Act 2004.
post‑commencement deed means a deed of assignment or a deed of arrangement that was executed after the commencement of this item by a debtor and a trustee under Part X of the Bankruptcy Act 1966 as that Part continues to apply because of item 213 of Schedule 1 to the Bankruptcy Legislation Amendment Act 2004.
pre‑commencement composition has the same meaning as in item 212 of Schedule 1 to the Bankruptcy Legislation Amendment Act 2004.
pre‑commencement deed has the same meaning as in item 212 of Schedule 1 to the Bankruptcy Legislation Amendment Act 2004.

(2) Despite the amendment made by item 1 of this Schedule, section 5 of the Bankruptcy (Estate Charges) Act 1997 continues to apply, in relation to an amount to which a person is entitled because the person is:
 (a) the trustee of a pre‑commencement deed; or
 (b) the trustee of a pre‑commencement composition; or
 (c) the trustee of a post‑commencement deed; or
 (d) the trustee of a post‑commencement composition;
as if that amendment had not been made.

(3) Despite the amendments made by items 2 and 3 of this Schedule, Part 3 of the Bankruptcy (Estate Charges) Act 1997 continues to apply, in relation to an amount received by a person because the person is:
 (a) the trustee of a pre‑commencement deed; or
 (b) the trustee of a pre‑commencement composition; or
 (c) the trustee of a post‑commencement deed; or
 (d) the trustee of a post‑commencement composition;
as if those amendments had not been made.

 [Minister's second reading speech made in—
House of Representatives on 24 March 2004
Senate on 13 May 2004]
(35/04)