Corporations (Insolvency Practice Schedule) Delegations 2021

Corporations (Insolvency Practice Schedule) Delegations 2021

made under the Corporations Act 2001

Compilation No. 04

Compilation date:   2 November 2024

Includes amendments: Corporations (Insolvency Practice Schedule) Amendment (2024 Measures No. 2) Delegations 2024

Prepared by The Treasury

About this compilation

This compilation

This is a compilation of the Corporations (Insolvency Practice Schedule) Delegations 2021 that shows the text of the law as amended and in force on 2 November 2024 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

Part 1—Preliminary 1

1  Name ..................................................1

3  Authority................................................1

5  Definitions...............................................1

Part 2—Delegations relating to appointing persons to a committee performing functions relating to the registration of a liquidator              2

6  Delegations...............................................2

7  Directions to the delegate.......................................2

Endnotes 3

Endnote 1—About the endnotes 3

Endnote 2—Abbreviation key 4

Endnote 3—Legislation history 5

Endnote 4—Amendment history 6

Part 1—Preliminary

1  Name

  This instrument is the Corporations (Insolvency Practice Schedule) Delegations 2021.

3  Authority

  This instrument is made under the Corporations Act 2001.

5  Definitions

Note: Expressions have the same meaning in this instrument as in the Corporations Act 2001 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.

  In this instrument:

senior staff member has the same meaning as in the Australian Securities and Investments Commission Act 2001.

the Act means the Corporations Act 2001.

Part 2—Delegations relating to appointing persons to a committee performing functions relating to the registration of a liquidator

6  Delegations

  Under subsection 50‑10(4) of Schedule 2 to the Act, the power to appoint a person to a committee under any of the provisions specified in subsection 50‑10(1) of Schedule 2 to the Act, is delegated to each staff member of ASIC who satisfies all of the following:

 (a) the staff member is a senior staff member;

 (b) the staff member holds or occupies a position in, or performs duties in, ASIC’s Legal Services.

7  Directions to the delegate

 (1) For the purposes of subsection 50‑10(5) of Schedule 2 to the Act, a person delegated the power to appoint a person to a committee under section 6 of this instrument, must only exercise the power to appoint a person if the person to be appointed is listed in subsection (2).

 (2) For the purposes of subsection (1), the following persons are listed:

 (a) Ms Shabnam Amirbeaggi;

 (b) Ms Natalie Fei-Fei Bhardwaj;

 (c) Ms Donna Boyce;

 (e) Mr Sergio Lopes Freire;

 (eaa) Dr Jason Harris;

 (ea) Ms Ingrid Johanna King;

 (f) Ms Orla McCoy;

 (h) Mr Michael Hugh Murray;

 (ha) Ms Maria Francine Coffill O’Brien;

 (i) Mr Stephen James Parbery;

 (ia) Mr Gregory Wayne Rodgers;

 (ja) Mr Shane Geoffrey Stewart.

Note 1: Paragraphs 7(2)(a), (b), (e), (ea), (h), (ha), (i), (ia) and (ja) are to be reviewed before 1 March 2027.

Note 2: Paragraphs 7(2)(c), (eaa) and (f) are to be reviewed before 1 November 2027.

Endnotes

Endnote 1—About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.

If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history