| Cl. 2 → S. 3 |
Section 3 (Definitions) |
Inserts definition of ‘registered valuer’ [cl.27A]; clarifies ‘security interest’ exists only by act of two or more parties, not by operation of law [cl.31 Explanation]; inserts definition of ‘service provider’ [cl.31A]. |
| Cl. 3 → S. 5 |
Section 5 (Definitions – CIRP) |
Inserts ‘avoidance transaction’ [cl.2A]; inserts ‘fraudulent or wrongful trading’ [cl.9A]; clarifies ‘insolvency commencement date’ where multiple applications are pending [cl.11 proviso]; expands ‘resolution plan’ to include asset sale by multiple applicants [cl.26]; clarifies ‘voting share’ to mean votes of CoC members eligible to vote [cl.28]. |
| Cl. 4 → S. 7 |
Section 7 (Financial Creditor Application) |
Omits… |
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