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No express exclusion of set-off in the newly announced phoenixing offences: a missed opportunity!?

Really disappointed to see that the Commonwealth Treasury didn’t run with my idea of excluding the set-off defence (per s553C) from the newly announced illegal phoenixing offences under the Corporations Act. It would solve so many issues if s553C(3) was introduced into the Corporations Act, which could say something along the lines of: “For the avoidance…