Document ID: chunk:federal_register_of_legislation:C2016A00011:clause:2_125
Version: federal_register_of_legislation:C2016A00011
Segment Type: clause
Provision Reference: sch 2 cl 125
Character Range: 190650–191939

125  Powers to deal with registration under the old Act on or after the commencement day
(1) This item applies if, as a result of the continued application of the old Act on or after the commencement day, a relevant body may decide to register a person or cancel the registration of a person, as a trustee under the old Act or to impose conditions on a person's registration as a trustee under the old Act.
(2) A relevant body may instead:
 (a) register the person or cancel the registration of the person, as a trustee under the Insolvency Practice Schedule (Bankruptcy) or impose conditions on a person's registration as a trustee under that Schedule; and
 (b) by order, modify the application of this Part or the Insolvency Practice Schedule (Bankruptcy) in relation to the registration, or the cancellation of the registration, of the person as a trustee under the Insolvency Practice Schedule (Bankruptcy) or in relation to the conditions imposed on a person's registration as a trustee under that Schedule.
(3) In this item:
relevant body means the Inspector‑General, the Administrative Appeals Tribunal, the Court or any other body.

Division 3—Application of Part 3 of the Insolvency Practice Schedule (Bankruptcy) and related consequential amendments

Subdivision A—Introduction