Document ID: chunk:federal_register_of_legislation:F2016L01898:clause:1_118
Version: federal_register_of_legislation:F2016L01898
Segment Type: clause
Provision Reference: sch 1 cl 118
Character Range: 4796–6271

118  Matters not dealt with by a committee before the commencement day
(1) This item applies if, before the commencement day:
 (a) the Inspector‑General convened a committee under section 155H of the old Act to consider whether a trustee should continue to be registered; and
 (b) the committee had not made a decision in relation to the trustee under section 155I of the old Act.
(2) Despite the repeal of sections 155H and 155I of the old Act by this Schedule, those sections continue to apply after the commencement day, in relation to the trustee, as if that repeal had not occurred.
(3) If, on a day that occurs after the commencement day, a decision is made by the committee under section 155I of the old Act that the trustee should cease to be registered, the committee is taken to have made a decision on that day under section 40‑55 of the Insolvency Practice Schedule (Bankruptcy) to cancel the registration of the person as a trustee.
(4) If, on a day that occurs after the commencement day, a decision is made by the committee under section 155I of the old Act that that the trustee should continue to be registered subject to a specified condition:
 (a) that condition is a current condition imposed on that day on the old Act registrant; and
 (b) Subdivision C of Division 20 of the Insolvency Practice Schedule (Bankruptcy) applies on and after that day to the condition in the same way as it applies to a condition imposed by a committee under that Schedule.