1635Application of amendments made by Schedule 3 to the Insolvency Law Reform Act 2016

1635  Application of amendments made by Schedule 3 to the Insolvency Law Reform Act 2016  (1) The amendment made by Part 1 of Schedule 3 to the Insolvency Law Reform Act 2016 applies in relation to the administration of a company that begins on or after the commencement of that Schedule.  (2) The amendment made by Part 2 of Schedule 3 to the Insolvency Law Reform Act 2016 applies in relation to material contraventions, and likely material contraventions, of a deed of company arrangement that occur on or after the commencement of that Schedule, regardless of when the deed was executed.  (3) The amendment made by item 9 of Part 4 of Schedule 3 to the Insolvency Law Reform Act 2016 applies in relation to deeds of company arrangement that are terminated on or after the commencement of that Schedule.  (4) The amendments made by Part 5 of Schedule 3 to the Insolvency Law Reform Act 2016 apply for the purposes of working out the relation‑back day in relation to a winding up of a company or Part 5.7 body starting on or after the commencement of that Schedule.  (5) The amendments made by items 22, 23, 25, 26, 29 and 30 of Part 6 of Schedule 3 to the Insolvency Law Reform Act 2016 apply in relation to declarations made after the commencement of that Schedule.  (6) The amendment made by item 28 of Part 6 of Schedule 3 to the Insolvency Law Reform Act 2016 applies in relation to resolutions passed on or after the commencement of that Schedule.  (7) The amendments made by items 31 and 32 of Part 6 of Schedule 3 to the Insolvency Law Reform Act 2016 apply in relation to orders made on or after the commencement of that Schedule.  (8) The amendment made by item 33 of Part 6 of Schedule 3 to the Insolvency Law Reform Act 2016 applies in relation to orders and declarations made on or after the commencement of that Schedule.  (9) The amendment made by item 34 of Part 6 of Schedule 3 to the Insolvency Law Reform Act 2016 applies whether the payment of an amount in respect of a liability was made before, on or after the commencement of that Schedule.         [Minister’s second reading speech made in— House of Representatives on 3 December 2015 Senate on 22 February 2016]   (219/15)