Section 1557 — Corporations Act 2001: Current conditions for old Act registrants—undertakings under the old Act

Undertakings under the old Act (1) If: (a) an old Act registrant was required to give an undertaking under paragraph 1292(9)(b) or (c) of the old Act; and (b) that requirement is still in force immediately before the commencement day; it is a condition of the old Act registrant’s registration under the Insolvency Practice Schedule (Corporations) that he or she gives and complies with the undertaking. (2) A condition imposed under subsection (1) is a current condition imposed on the old Act registrant. Varying etc. conditions of registration (3) Subdivision C of Division 20 of the Insolvency Practice Schedule (Corporations) applies to a condition imposed under subsection (1) in the same way as it applies to a condition imposed by a committee under the Insolvency Practice Schedule (Corporations).