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CORPORATIONS ACT 2001 - SECT 1581 Old Act continues to apply in relation to remuneration for administrators already appointed

CORPORATIONS ACT 2001 - SECT 1581

Old Act continues to apply in relation to remuneration for administrators already appointed

  (1)   Despite the repeal of sections   449E and 473 and the repeal and substitution of subsections   499(3) to (7) of the old Act by Schedule   2 to the Insolvency Law Reform Act 2016 , the old Act continues to apply in relation to the remuneration of an external administrator of a company who is appointed before the commencement day.

  (2)   Despite subsection   (1), if, under Subdivision F of this Division, Division   75 of the Insolvency Practice Schedule (Corporations) rather than the old Act would apply to a meeting that deals with the remuneration of an external administrator of a company who is appointed before the commencement day, Division   75 of the Insolvency Practice Schedule (Corporations) applies to that meeting.

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