Cross-Border Insolvency Bill 2008

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. 

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Progress

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


26 May 2008Assent

Act no.: 24

Year: 2008

Documents and transcripts

Text of bill

Word Format PDF Format

Explanatory memoranda

Word Format PDF Format

Transcript of speeches

Proposed amendments

No documents at present

Schedules of amendments

No documents at present

Committee Information

No documents at present

Bills Digest PDF Format

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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 theĀ 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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