Chapter 17-  Private International Law in Company Liquidation has been completely revised by Professor Rosalind  Mason.

New commentary in this Chapter has focused on the Cross-Border Insolvency Act 2008 (Cth) (the Act), in particular the UNICITRAL Model Law on Cross-Border Insolvency found in Sch 1, and the Act's interaction with the Corporations Act 2007 (Cth), as considered in Re Chow Cho Poon  (Private) Ltd (2001) 249 FLR 315; [2011] NSWSC 300.

 The Corporations  Act 2007 (Cth) has been amended by the Corporations  Amendment (Phoenixing and Other Measures) Act 2012 (Cth) (Act No 48, 2012). The amendments to the extracts commenced on 1 July 2012 and create a regulation making power to facilitate the future provision of all external administration notices via a single website.

 Corporations Legislation 2001 (CTH)

The Corporations Regulations 2001 (Cth) have been amended by the Corporations Legislation Amendment Regulation 2012 (No 1) (Cth) (SLI No 114, 2012).  Schedule 1 commenced on 1 July 2012 and:

• requires the establishment of a website by ASIC for the publication of external administration  notices;
• provides that liquidators' lodgment requirements under the Act are satisfied where the notices are lodged on the new website, in the format required by ASIC, and the requisite fee is paid; and
• states the minimum information  required to be provided by liquidators and administrators in complying with the notification obligations.

 Forms

Form 546 - Notice of Intention to Declare a Dividend has been repealed by the Corporations Legislation Amendment Regulation 2012 (No 1) (Cth) (SLI No 114, 2012) with effect from 1 July 2012.

New Developments

 ASIC

[ND.510] ASIC's new website for insolvency notices (commencing 1 July 2012) [ND.520] ASIC Quick Guide to Publishing Notices

[ND.530] ASIC Updated Fact Sheet - lodging notices for publication on ASIC's new website for insolvency and other notices

[ND.540] ASIC Ready Reckoner- provisions impacted by electronic publishing on new website

 NEW LEGISLATION

[ND.1000] Corporations Amendment (Phoenixing and Other Measures) Act 2012 [ND.1010] Extracts of the Corporations Amendment (Phoenixing and Other Measures) Bill2012

[ND.1020] Explanatory Memorandum  to the Corporations Amendment (Phoenixing and

Other Measures) Bill 2012

[ND.1030] Second Reading Speech to the Corporations Amendment (Phoenixing and

Other Measures) Bill 2012

 [ND.1100] Corporations Legislation Amendment Regulation 2012 (No 1) [ND.1110] Explanatory Statement to the Corporations Legislation Amendment Regulation 2012 (No 1)