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Insolvency Law Reform Bill 2014

7 November 2014 | Exposure Draft

The draft Bill comprises a package of proposals to amend and streamline the Bankruptcy Act 1966 and the Corporations Act 2001. The proposed amendments will:

  • remove unnecessary costs and increase efficiency in insolvency administrations;
  • enhance communication and transparency between stakeholders;
  • promote market competition on price and quality;
  • boost confidence in the professionalism and competence of insolvency practitioners; and
  • remove unnecessary costs from the insolvency industry resulting in around $55.4 million per annum in compliance cost savings.

Submissions closed on Friday 19 December 2014

Key Documents

Submissions

20 submissions were received for this consultation, including 4 confidential submissions.

Ref Num: {34029467-07BE-46D9-AA9E-86DAC3715DFF}
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