What the official record says
This Act is the Insolvency Amendment Act . is deemed to have come into force on . The rest of this Act comes into force on the day after the date on which it receives the Royal assent. This Act amends the Insolvency Act 2006. Sections 204 and 205 are repealed and the following sections substituted: A gift by a bankrupt to another person may be cancelled on the Assignee's initiative if the bankrupt made the gift within 2 years immediately before adjudication. A gift by a bankrupt to another person may be cancelled on the Assignee's initiative if— the bankrupt made the gift within the period beginning 2 years immediately before adjudication and ending 5 years immediately before adjudication; and the bankrupt was unable to pay his or her debts. A bankrupt is presumed to have been unable to p