Commonwealth Numbered Acts Commonwealth Numbered Acts
No. 24, 2008
Contents
1............ Short title............................................................................................ 2
2............ Commencement.................................................................................. 2
3............ Crown to be bound............................................................................. 3
4............ Application of Act............................................................................. 3
Part 2--Model Law on Cross‑Border Insolvency 4
5............ Definitions.......................................................................................... 4
6............ Model Law to have force of law in Australia..................................... 4
7............ References in Model Law to this State............................................... 4
8............ Identifying Australian laws relating to insolvency............................. 5
9............ Entities that are not covered by the Model Law................................ 5
10.......... Courts competent to perform functions under Model Law............... 5
11.......... Functions of the trustee (in bankruptcy proceedings) and the registered liquidator (in corporate insolvencies) 6
12.......... Access of foreign creditors to Australian insolvency proceedings..... 6
13.......... Application for recognition of foreign proceeding.............................. 6
14.......... Subsequent information...................................................................... 7
15.......... Relief that may be granted upon application for recognition of a foreign proceeding 7
16.......... Effects of recognition of a foreign main proceeding............................ 7
17.......... Actions to avoid acts detrimental to creditors.................................... 8
18.......... Forms of cooperation......................................................................... 8
19.......... References to laws/law of this State and courts of this State............. 8
20.......... Application......................................................................................... 9
Part 3--Interaction with other Acts 10
21.......... Interaction with the Bankruptcy Act 1966........................................ 10
22.......... Interaction with the Corporations Act 2001..................................... 10
Part 4--Regulations 11
23.......... Regulations....................................................................................... 11
Schedule 1--Model Law on Cross‑Border Insolvency of the United Nations Commission on International Trade Law 12
Cross-Border Insolvency Act 2008
No. 24, 2008
An Act to give effect to the Model Law on Cross‑Border Insolvency of the United Nations Commission on International Trade Law, and for related purposes
[Assented to 26 May 2008]
The Parliament of Australia enacts: