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Second Reading Speeches

Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
45

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Summary

Amends the:

Corporations Act 2001
to: create a safe harbour for company directors from personal liability for insolvent trading if the company is undertaking a restructure outside formal insolvency; and
Corporations Act 2001
and
Payment Systems and Netting Act 1998
to make certain contractual rights unenforceable while a company is restructuring under certain formal insolvency processes.