Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“This section says the Act may be cited as the Insolvency Act.”
This section says the Act may be cited as the Insolvency Act. This section defines key terms used in the Act. This Act does not apply to financial institutions unless the Financial Services Act says otherwise. This section creates the Director of Insolvency and assigns that office responsibility for administering and applying the Act. The Minister must designate a suitable person or office as the Official Receiver, and the Chief Justice must make rules setting a mandatory threshold and procedure for certain small bankruptcies and voluntary arrangements.
02
How the instrument operates
- 01
Start with the recorded version
Enacted 2016 · Source version 31 Dec 2017. The date shown identifies this source expression and should not be treated as proof that no later change exists.
- 02
Locate the controlling provision
Use the provision map, part headings and full-text filter to move from the broad subject to the exact legal language.
- 03
Read conditions and exceptions together
Keep subsections, definitions, provisos and cross-references in context before drawing a legal conclusion.
- 04
Verify currency and official wording
Confirm later legislation, commencement notices and corrections with the official publisher before advice, filing or reliance.
03
Source and current-law status
Source record view
Source record from malawilii.org · Enacted 2016 · Source version 31 Dec 2017
The source record does not state a definitive current-law status. Check the official publisher and later amendments before relying on this text.