Document ID: chunk:federal_register_of_legislation:C2021C00032:schedule:1:p12
Version: federal_register_of_legislation:C2021C00032
Segment Type: schedule
Provision Reference: sch 1 (pt 12/12)
Character Range: 46297–48715

159): 5 Mar 2016 (s 2(1) item 2)                                 —
Insolvency Law Reform Act 2016                                               11, 2016         29 Feb 2016   Sch 2 (items 268–273): 1 Mar 2017 (s 2(1) item 5)                            —
Territories Legislation Amendment Act 2016                                   33, 2016         23 Mar 2016   Sch 5 (items 30–32): 1 July 2016 (s 2(1) item 7)                             —
Territories Legislation Amendment Act 2020                                   154, 2020        17 Dec 2020   Sch 2 (items 80–85): 18 Dec 2020 (s 2(1) item 6)                             —

Endnote 4—Amendment history

Provision affected        How affected
Part 1
s 4.....................  am No 33, 2016
                          rep No 154, 2020
Part 2
s 5.....................  am No 8, 2010; No 33, 2016; No 154, 2020
s 7.....................  am No 46, 2011; No 33, 2016; No 154, 2020
s 8.....................  am No 11, 2016
s 9.....................  am No 126, 2015
s 13....................  am No 11, 2016
s 14....................  am No 11, 2016
s 19....................  am No 154, 2020
s 20....................  am No 11, 2016
Part 3
s 22....................  am No 11, 2016

[1] A State where certain functions relating to insolvency proceedings have been conferred upon government-appointed officials or bodies might wish to include in article 4 or elsewhere in chapter I the following provision:
   "Nothing in the present Law affects the provisions in force in this State governing the authority of [insert the title of the government-appointed person or body]."
[2] The enacting State may wish to consider the following alternative wording to replace paragraph 2 of article 13:
   "2.  Paragraph 1 of the present article does not affect the ranking of claims in a proceeding under [identify laws of the enacting State relating to insolvency] or the exclusion of foreign tax and social security claims from such a proceeding. Nevertheless, the claims of foreign creditors other than those concerning tax and social security obligations shall not be ranked lower than [identify the class of general non-preference claims, while providing that a foreign claim is to be ranked lower than the general non-preference claims if an equivalent local claim (e.g. claim for a penalty or deferred-payment claim) has a rank lower than the general non-preference claims]."