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Cross-Border Insolvency Bill 2007

Part 3 Interaction with other Acts

   

21   Interaction with the Bankruptcy Act 1966

                   If the Model Law (as it has the force of law in Australia) or a provision of this Act is inconsistent with section 29 of the Bankruptcy Act 1966 , the Model Law or the provision of this Act prevails, and that section has no effect to the extent of the inconsistency.

22   Interaction with the Corporations Act 2001

             (1)  If the Model Law (as it has the force of law in Australia) or a provision of this Act is inconsistent with a provision of:

                     (a)  Division 9 of Part 5.6 of the Corporations Act 2001 ; or

                     (b)  Part 5.7 of the Corporations Act 2001 ;

the Model Law or the provision of this Act prevails, and the provision of the Corporations Act 2001 has no effect to the extent of the inconsistency.

             (2)  The Model Law (as it has the force of law in Australia) and this Act, are in addition to, and not in derogation of, section 601CL of the Corporations Act 2001 .