- (e) the reference in section 312(a)(i) of that Act to "21 days" were a reference to "6 months";
- (f) the reference in section 314 of that Act to "21 days" were a reference to "6 months";
- (g) the references in section 316(2) of that Act to "21 days" were references to "6 months"; and
- (h) the reference in section 316(9)(a) of that Act to "the prescribed amount" were a reference to "$250,000".
(2) For the purposes of section 415 of the Insolvency, Restructuring and Dissolution Act 2018, a bankrupt is not to be treated as having no reasonable ground of expectation of being able to pay a debt if the debt is incurred—
- (a) in the ordinary course of the bankrupt's trade or business;
- (b) during the prescribed period; and
- (c) before the making of an application for voluntary arrangement or bankruptcy in respect of the bankrupt.
Division 2—Modifications relating to other businesses in financial distress
Modifications to Companies Act
22.—(1) During the prescribed period, the Companies Act (including that Act as applied by the Variable Capital Companies Act 2018) applies as if—
- (a) the reference in section 254(2)(a) of the Companies Act to "$10,000" were a reference to "$100,000"; and
- (b) the reference in section 254(2)(a) of the Companies Act to "3 weeks" were a reference to "6 months".
(2) For the purpose of section 339(3) of the Companies Act (including that provision as applied by the Variable Capital Companies Act 2018), an officer of the company or (as the case may be) an officer, the manager or the custodian of the variable capital company is not to be treated as having no reasonable or
