Commonwealth legislation

Cross-Border Insolvency Regulations 2008

In ForceCTH

Jurisdiction

Commonwealth

Act Number

123 of 2008

Collection

legislative instrument

Plain English Summary

2/10 complexity

These Regulations formally designate which financial firms are “prescribed entities” for section 9 of the Cross‑Border Insolvency Act 2008: authorised deposit‑taking institutions, general insurers and life companies, using the definitions in the Banking Act 1959, Insurance Act 1973 and Life Insurance Act 1995.

They are an administrative classification made by the Governor‑General; they don’t create obligations themselves but determine which firms the Act will affect.

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Current sections

Direct links to the current provisions in Cross-Border Insolvency Regulations 2008.

Cross-Border Insolvency Regulations 2008

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Cross‑Border Insolvency Regulations 20081

Select Legislative Instrument 2008 No. 123

I, PHILIP MICHAEL JEFFERY, Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Cross‑Border Insolvency Act 2008.

Dated 19 June 2008

P. M. JEFFERY

Governor‑General

By His Excellency’s Command

NICK SHERRY

Minister for Superannuation and Corporate Law

1 Name of Regulations

These Regulations are the Cross‑Border Insolvency Regulations 2008.

2 Commencement

These Regulations commence immediately after the commencement of Parts 2, 3 and 4 of the Act.

3 Definitions

In these Regulations:

Act means the Cross‑Border Insolvency Act 2008.

ADI has the same meaning as in the Banking Act 1959.

general insurer has the same meaning as in the Insurance Act 1973.

life company has the same meaning as in the Life Insurance Act 1995.

4 Prescribed entities (Act s 9)

For section 9 of the Act, the entities listed in Schedule 1 are prescribed entities.

Schedule 1 Prescribed entities

(regulation 4)

Item	Entities
1	ADIs
2	General insurers
3	Life companies

Note

Note: 1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Cross-Border Insolvency Regulations 2008