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Corporations Amendment (Insolvency) Bill 2007

Schedule 5 Miscellaneous

   

Australian Securities and Investments Commission Act 2001

1  Subsection 13(2)

Omit “Part 6.12”, substitute “Part 6.10”.

2  Paragraph 69(2)(a)

Omit “under official management or being wound up—the official manager or liquidator of the body”, substitute “being wound up—the liquidator of the body”.

Corporations Act 2001

3  Section 9 (definition of administration )

Omit all the words after “given”, substitute “by section 435C.”.

4  Section 9 (definition of official manager )

Repeal the definition.

5  After subsection 256B(1)

Insert:

          (1A)  To avoid doubt, a cancellation of a partly-paid share is taken to be for consideration.

6  Paragraph 443D(a)

Omit “443BA(3)”, substitute “443BA(2)”.

7  Section 512

Repeal the section.

8  Paragraph 533(1)(a)

Omit “and”, substitute “or”.

9  Paragraph 556(1)(d)

Repeal the paragraph.

10  Paragraph 556(1)(dc)

Repeal the paragraph.

11  Subsection 539(3)

Omit “with”.

12  Subsection 556(2) (definition of official manager )

Repeal the definition.

13  Subsection 556(2) (paragraph (b) of the definition of relevant authority )

Repeal the paragraph.

14  Subsection 565(2)

Omit all the words after “person”, substitute “is the relation-back day.”.

15  Paragraph 597A(1)(b)

Omit “examinable officer of the corporation or was such an officer”, substitute “officer or provisional liquidator of the corporation or was such an officer or provisional liquidator”.