Section 1557 — Corporations Act 2001 (Cth)

Undertakings under the old Act

(1) If:

(a) an old Act registrant was required to give an undertaking under paragraph 1292(9)(b) or (c) of the old Act; and

(b) that requirement is still in force immediately before the commencement day;

it is a condition of the old Act registrant’s registration under the Insolvency Practice Schedule (Corporations) that he or she gives and complies with the undertaking.

(2) A condition imposed under subsection (1) is a current condition imposed on the old Act registrant.

Varying etc. conditions of registration

(3) Subdivision C of Division 20 of the Insolvency Practice Schedule (Corporations) applies to a condition imposed under subsection (1) in the same way as it applies to a condition imposed by a committee under the Insolvency Practice Schedule (Corporations).

Related sections

• s 1554 — Old Act registrant’s details
• s 1555 — Period of old Act registrant’s registration under the Insolvency Practice Schedule (Corporations)
• s 1556 — Conditions for old Act registrants—conditions under the Insolvency Practice Schedule (Corporations)
• s 1558 — Current conditions for old Act registrants—undertakings under the ASIC Act
• s 1559 — Old Act registrant registered as liquidator of a specified body corporate
• s 1560 — Old Act registrant chooses not to renew

Research how courts apply s 1557

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