Federal Register of Legislation - Australian Government

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Bankruptcy Amendment (Bankruptcy Threshold) Regulations 2020

Authoritative Version
  • - F2020L01652
  • In force - Latest Version
Regulations as made
This instrument amends the Bankruptcy Regulations 1996 to prescribe an amount of $10,000 as the statutory minimum bankruptcy threshold for the purposes of paragraph (a) of the definition of statutory minimum in subsection 5(1) of the Bankruptcy Act 1966.
Administered by: Attorney-General's
Registered 21 Dec 2020
Tabling HistoryDate
Tabled HR02-Feb-2021
Tabled Senate02-Feb-2021
To be repealed 12 May 2021
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.

Commonwealth Coat of Arms of Australia

 

Bankruptcy Amendment (Bankruptcy Threshold) Regulations 2020

I, General the Honourable David Hurley AC DSC (Retd), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 17 December 2020

David Hurley

Governor‑General

By His Excellency’s Command

Christian Porter

Attorney‑General

 

 

 

  

  


Contents

1............ Name............................................................................................................................. 1

2............ Commencement............................................................................................................. 1

3............ Authority....................................................................................................................... 1

4............ Schedules...................................................................................................................... 1

Schedule 1—Amendments                                                                                                                          2

Bankruptcy Regulations 1996                                                                                                             2

 


1  Name

                   This instrument is the Bankruptcy Amendment (Bankruptcy Threshold) Regulations 2020.

2  Commencement

             (1)  Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this instrument

1 January 2021.

1 January 2021

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under the Bankruptcy Act 1966.

4  Schedules

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1Amendments

  

Bankruptcy Regulations 1996

1  After regulation 4.02

Insert:

4.02AA  Prescribed statutory minimum

                   For the purposes of paragraph (a) of the definition of statutory minimum in subsection 5(1) of the Act, the amount prescribed is $10,000.