Document ID: chunk:federal_register_of_legislation:C2016A00011:clause:2_116
Version: federal_register_of_legislation:C2016A00011
Segment Type: clause
Provision Reference: sch 2 cl 116
Character Range: 184397–185677

116  Request for explanation made before the commencement day
(1) If, before the commencement day:
 (a) the Inspector‑General believes a matter mentioned in paragraphs 155H(1)(a) to (g) of the old Act in relation to an old Act registrant; and
 (b) the Inspector‑General asks the old Act registrant under section 155H of the old Act to give a written explanation why the old Act registrant should continue to be registered; and
 (c) the Inspector‑General has not received an explanation within a reasonable time or is not satisfied by the explanation; and
 (d) the Inspector‑General has not convened a committee under subsection 155H(2) to consider if the old Act registrant should continue to be registered;
the request mentioned in paragraph (b) is taken never to have been made.
(2) The fact that the request is taken never to have been made does not preclude the Inspector‑General from giving a notice to the old Act registrant under section 40‑40 of the Insolvency Practice Schedule (Bankruptcy) (show‑cause notice) in relation to the same matter, or any aspect of the same matter.
Note: In relation to the application of section 40‑40 of the Insolvency Practice Schedule (Bankruptcy), see item 122.
(3) This item does not apply for the purposes of sections 186LA and 186LB.