Document ID: chunk:federal_register_of_legislation:C2016A00011:clause:2_1557
Version: federal_register_of_legislation:C2016A00011
Segment Type: clause
Provision Reference: sch 2 cl 1557
Character Range: 490280–491174

1557  Current conditions for old Act registrants—undertakings under the old Act

Undertakings under the old Act
 (1) If:
 (a) an old Act registrant was required to give an undertaking under paragraph 1292(9)(b) or (c) of the old Act; and
 (b) that requirement is still in force immediately before the commencement day;
it is a condition of the old Act registrant's registration under the Insolvency Practice Schedule (Corporations) that he or she gives and complies with the undertaking.
 (2) A condition imposed under subsection (1) is a current condition imposed on the old Act registrant.

Varying etc. conditions of registration
 (3) Subdivision C of Division 20 of the Insolvency Practice Schedule (Corporations) applies to a condition imposed under subsection (1) in the same way as it applies to a condition imposed by a committee under the Insolvency Practice Schedule (Corporations).