Text of bill | Explanatory memoranda | Second reading speeches | Proposed amendments | Schedules of amendments | Bills Digest

Bills of previous Parliaments

Although every effort is made to ensure the accuracy of bills homepages, the authoritative sources for verifying the progress of bills are the House of Representatives Votes and Proceedings and the Journals of the Senate.

Insolvency Law Reform Bill 2015

Originating house
House of Representatives


Amends the: Bankruptcy Act 1966 and Corporations Act 2001 to align the registration and disciplinary frameworks that apply to registered liquidators and registered trustees (through the rules made by the Insolvency Practice Schedule (Bankruptcy) and Insolvency Practice Schedule (Corporations)); and align a range of specific rules relating to the handling of personal bankruptcies and corporate external administrations; Australian Securities and Investments Commission Act 2001 to provide the Australian Securities and Investments Commission with further powers to assist in the oversight of the regulation of registered liquidators; Corporations Act 2001 in relation to: payments for property; use of a company’s former name; termination of a deed of company arrangement; relation-back day; and the lodgement of documents with ASIC which require a notice to be in the prescribed form; and Corporations Act 2001 and Private Health Insurance (Prudential Supervision) Act 2015 in relation to notifications of contraventions of deeds of company arrangement. Also makes consequential amendments to 25 Acts.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 03/12/15  
Second reading moved 03/12/15  
Second reading debate 09/02/16  
Second reading debate 10/02/16  
Second reading agreed to 10/02/16  
Third reading agreed to 10/02/16  
Introduced and read a first time 22/02/16  
Second reading moved 22/02/16  
Second reading debate 22/02/16  
Second reading agreed to 22/02/16  
Third reading agreed to 22/02/16  
Finally passed both Houses 22/02/16  
Assent 29/02/16 Act no: 11 - Year: 2016

Text of bill

  • First reading

  • As passed by both Houses


Explanatory memoranda

  • Explanatory memorandum


Second reading speeches

Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

Bills Digest

  • An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)