Insolvent trading: recent developments in Australia, New Zealand and South Africa

Dabner, Justin (1994) Insolvent trading: recent developments in Australia, New Zealand and South Africa. Bond Law Review, 6 (1).

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Abstract

[Extract] During the 1980's much was written about the inadequacies of the Australian fraudulent and reckless trading provisions contained in sections 556 and 557 of the Companies Code and later sections 592 and 593 of the Corporations Law.

These indadequacies were not lost on the Government and whilst the introduction of the National companies scheme in 1990 did not effect any reforms to the defaulting officer provisions, as they have commonly become known, over a six year period a series of committees was established to examine both the adequacy of the laws relating to insolvency and the regulation of directors. Subsequently the Corporate Law Reform Act 1992 enacted, amongst other reforms, significant changes to the defaulting officer provisions. Thses amendments took effect from 24 June, 1993.

Item ID: 32867
Item Type: Article (Refereed Research - C1)
ISSN: 2202-4824
Date Deposited: 01 Dec 2017 01:21
FoR Codes: 18 LAW AND LEGAL STUDIES > 1801 Law > 180125 Taxation Law @ 100%
SEO Codes: 97 EXPANDING KNOWLEDGE > 970118 Expanding Knowledge in Law and Legal Studies @ 100%
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