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Insolvency Law Reform Act 2016
160Duties of members of committee of inspection and creditors relating to profits and advantages etc.
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160 Duties of members of committee of inspection and creditors relating to profits and advantages etc.
Sections 80‑55 and 80‑60 of the Insolvency Practice Schedule (Bankruptcy) apply to arrangements made on or after the commencement day.
Subdivision H—Review of the administration of a regulated debtor’s estate
161 Application of Division 90 of the Insolvency Practice Schedule (Bankruptcy)—general rule
Division 90 of the Insolvency Practice Schedule (Bankruptcy) applies in relation to an ongoing administration of a regulated debtor’s estate whether or not the matter to be reviewed occurred before, on or after the commencement day.
162 Review of remuneration
(1) Reviews under Subdivision C of Division 90 of the Insolvency Practice Schedule (Bankruptcy) may be carried out whether or not:
(a) the remuneration is paid or payable; or
(b) the cost or expense is incurred or paid; or
(c) the funds were withdrawn or proposed to be withdrawn;
Old Act continues to apply in relation to ongoing reviews
(2) Subitems (3) and (4) apply if a review in accordance with regulations made for the purposes of subsection 167(1) of the old Act is started before the commencement day.
(3) Nothing in this Act affects:
(a) the review; or
(b) the powers of the Inspector‑General in relation to the review; or
(c) any decisions made by the Inspector‑General in relation to the review; or
(d) any requirement for a trustee to repay an amount of remuneration; or
(e) any appeal or review in relation to the review.
(4) The old Act continues to apply on and after the commencement day in relation to the review despite the amendments and repeals made by this Act.
163 Application of the Insolvency Practice Schedule (Bankruptcy) provisions that conflict with old Act Court orders—general rules
(1) This item applies if a court makes an order in relation to a person or the administration of an estate of a bankrupt under the old Act (the old Act order).
(2) The old Act order does not cease to have effect because a provision of the old Act under which it was made has been amended or repealed by this Act.
(3) If the old Act order is inconsistent with:
(a) a provision of the Bankruptcy Act 1966 that is amended or inserted by this Act; or
(b) a provision dealing with matters of an application, saving or transitional nature relating to amendments made by this Act;
then, subject to this Part, the provision does not apply to the extent that it is inconsistent with the old Act order.