CORPORATIONS ACT 2001 - SECT 1568 Board considering terminating suspension before the commencement day

CORPORATIONS ACT 2001 - SECT 1568

  (1)   If:

  (a)   an application has been made under section   1295 of the old Act to terminate the suspension of the registration of a person as a liquidator, or as a liquidator of a specified body corporate; and

  (b)   the Board has neither refused the application nor, by order, terminated the suspension before the commencement day;

the Board must cease its consideration of the matter on the commencement day without making such an order.

  (2)   If:

  (a)   the Board, under section   1295 of the old Act, is considering of its own motion whether to terminate the suspension of the registration of a person as a liquidator, or as a liquidator of a specified body corporate; and

  (b)   the Board has not, by order, terminated the suspension before the commencement day;

the Board must cease its consideration of the matter on the commencement day without making such an order.

  (3)   The fact that the Board has ceased to consider the matter does not preclude the matter from being dealt with under Division   40 of the Insolvency Practice Schedule (Corporations).