Cross-Border Insolvency Bill 2008 – Parliament of Australia

Type: Government
Portfolio: Superannuation and Corporate Law
Originating house: Senate
Status: Act
Parliament no: 42
Summary: Implements the Model Law on Cross-Border Insolvency adopted by the United Nations Commission on International Trade Law by: establishing access to local courts by persons administering a foreign insolvency proceeding; establishing conditions for recognition of a foreign insolvency proceeding and granting relief to its participants; permitting participation by foreign creditors in such proceedings; enabling cooperation between courts and practitioners from different countries; enabling coordination of proceedings to take place concurrently in different countries; and empowering the Governor-General to make regulations under the Act.

Progress

Senate
13 Feb 2008	Introduced and read a first time
13 Feb 2008	Second reading moved
11 Mar 2008	Second reading debate
11 Mar 2008	Second reading agreed to
11 Mar 2008	Third reading agreed to

House of Representatives
11 Mar 2008	Introduced and read a first time
19 Mar 2008	Referred to Main Committee
20 Mar 2008	Second reading moved
20 Mar 2008	Second reading agreed to
13 May 2008	Reported from Main Committee
13 May 2008	Third reading agreed to

26 May 2008

Assent

Act no.: 24

Year: 2008

Documents and transcripts

Text of bill

First reading

Explanatory memoranda

Explanatory memorandum

Transcript of speeches

Proposed amendments

No documents at present

Schedules of amendments

No documents at present

Committee Information

No documents at present

Bills Digest

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Helpful information

Text of bill

First reading: Text of the bill as introduced into the Parliament
Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changed to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.

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