Corporate insolvency reforms 2020 – referred to a committee?

Report No 11 of 2020 of the Senate’s selection of bills committee of 3 December 2020 has considered the Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 “but was unable to reach agreement”. Appendix 2 to the report then gives “statement of reasons for referral”.

Appendix 2 says:

“Proposal to refer a bill to a committee – Corporations Amendment (Corporate Insolvency Reforms) Bill 2020

Reasons for referral/principal issues for consideration:

  • Potential impact on business environment, including supply of credit.
  • Potential impact on worker, including payment of wages and entitlements.

Possible submissions or evidence from: – Academics and think tanks – Business groups – Unions

Committee to which bill is to be referred: – Economics

Possible hearing date(s): – On the papers

Possible reporting date: – January 2021”.

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