Document ID: chunk:federal_register_of_legislation:F2022C01140:body:0:p5
Version: federal_register_of_legislation:F2022C01140
Segment Type: other
Provision Reference: 
Character Range: 18159–21186

under the old Act; or
           (c) any action taken in respect of the person as a liquidator, or as a liquidator of a specified body corporate, under paragraph 1292(9)(a), (b) or (c) of the old Act.

       Insolvency Practice Schedule (Corporations) means Schedule 2 to the Act.

       material personal interest has a meaning affected by section 5‑15.

       old Act means the Corporations Act 2001, as in force immediately before the day on which Part 1 of Schedule 2 to the Insolvency Law Reform Act 2016 commences.

       Part 2 committee means a committee convened under one of the following provisions of the Insolvency Practice Schedule (Corporations):
           (a) subsection 20‑10(1) (applications for registration);
           (b) subsection 20‑45(1) (applications to vary etc. conditions of registration);
           (c) subsection 40‑45(1) (disciplinary action);
           (d) subsection 40‑75(1) (applications to lift or shorten a suspension).

       regulations means the Corporations Regulations 2001.

       resolution: see sections 75‑115, 75‑120, 75‑130 and 75‑190.

       show of hands: a vote taken on a show of hands includes a vote taken using any electronic mechanism that indicates the intentions of a person in respect of the vote.

       5‑10  What is a current registration?

        (1) If, at a particular time:
           (a) a person is registered as a liquidator; and
           (b) that registration has not been broken by cancellation of, or a failure to renew, the registration;
       the registration of the person as a liquidator is current at that time.

        (2) The registration is taken to have first begun on the day on which the unbroken chain of registration first began.

        (3) To avoid doubt, the registration of a person as a liquidator is not broken because:
           (a) the person was registered as a liquidator, or as a liquidator of a specified body corporate, under the old Act; and
           (b) on the commencement of Part 1 of Schedule 2 to the Insolvency Law Reform Act 2016, the person was taken to be registered as a liquidator under Subdivision B of Division 20 of the Insolvency Practice Schedule (Corporations) because of the operation of section 1553 of the Corporations Act 2001.

       5‑15  Meaning of material personal interest

         Without limiting the circumstances in which a member of a Part 2 committee has a material personal interest that relates to a matter, a member of a Part 2 committee has a material personal interest that relates to a matter if the matter relates to a related entity of the member.

       Part 2—Registering and disciplining practitioners

       Division 15—Register of Liquidators

       15‑1  Register of Liquidators

        (1) This section is made for the purposes of subsection 15‑1(3) of the Insolvency Practice Schedule (Corporations).

        (2) The Register of Liquidators must include each of the following for each person who is registered as a liquidator:
           (a) the