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The Murray Report  accepts that “Australia’s external administration provisions are generally working well and do not require wholesale revision”. ASIC is to retain its supervision of corporate insolvency with recommendations that it be better resourced and “should devote more attention to industry supervision including more proactively identifying and weeding-out misconduct”. This approach is consistent with the intentions of the recently released Insolvency Law Reform Bill and stated public intention of ASIC. One recommendation that…