122Show‑cause notice under the Insolvency Practice Schedule (Bankruptcy)

122  Show‑cause notice under the Insolvency Practice Schedule (Bankruptcy) (1) Subdivision E of Division 40 of the Insolvency Practice Schedule (Bankruptcy) applies whether or not an event mentioned in subsection 40‑40(1) of the Schedule occurs before, on or after the commencement day. (2) However, in relation to an event that occurs before the commencement day, paragraph 40‑40(1)(p) of the Insolvency Practice Schedule (Bankruptcy) has effect as if the reference in that paragraph to “a standard prescribed for the purposes of subsection (4)” was a reference instead to “a standard prescribed by regulations made for the purpose of subsection 155H(5) of the old Act”.