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Bills of the current Parliament

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.

Corporations Amendment (Corporate Insolvency Reforms) Bill 2020


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Amends the: Corporations Act 2001 to: establish a debt restructuring process for eligible small companies and provide temporary relief for eligible companies seeking to enter the process; and expand the situations where documents relating to the external administration of a company may be given electronically and allow documents relating to the external administration of a company to be signed electronically; and Bankruptcy Act 1966 and Corporations Act 2001 to establish a simplified liquidation process for the purpose of winding up the affairs and distributing the property of an eligible company in a creditors' voluntary winding up, as well as the requirements for entering and exiting the process. Also makes consequential amendments to seven 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 12/11/20  
Second reading moved 12/11/20  
Second reading debate 07/12/20  
Second reading debate 08/12/20  
Second reading agreed to 08/12/20  
Consideration in detail debate 08/12/20  
Third reading agreed to 08/12/20  
     
Senate
Introduced and read a first time 09/12/20  
Second reading moved 09/12/20  
Second reading agreed to 10/12/20  
Third reading agreed to 10/12/20  
     
Finally passed both Houses 10/12/20  
Assent 15/12/20 Act no: 130 - Year: 2020
     

Text of bill

  • First reading

MS-Word PDF HTML
  • As passed by both Houses

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

House of Representatives
  • Non-Government
JONES, Stephen, MP

MS-Word PDF HTML
Senate
  • Opposition [sheet 1155]
MCALLISTER, Sen Jenny

MS-Word PDF HTML

Schedules of amendments

Bills Digest



Notes
  • Considered by scrutiny committee (02/12/2020): Senate Standing Committee for the Scrutiny of Bills; Scrutiny Digest 2 of 2021
  • An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)