---
title: "Restructuring proposal period diary"
url: "https://ailawframework.com/precedents/insolvency-restructuring-and-bankruptcy/restructuring-proposal-diary"
type: "precedent"
site: "AI Law Framework"
id: "a8-restructuring-proposal-diary"
area_id: "A8"
kind: "checklist"
ai_level: "yellow"
version: 1
task_ids: ["A8-L20261018-3"]
law_stated_as_at: "2026-10-22"
---

# Restructuring proposal period diary

> Diary of the proposal and acceptance periods ASIC states for a small business restructuring, after the practitioner is appointed. It does not draft the plan.

Canonical page: https://ailawframework.com/precedents/insolvency-restructuring-and-bankruptcy/restructuring-proposal-diary  
Law stated as at: 2026-10-22

Site index for agents: https://ailawframework.com/llms.txt

## Key facts

- Kind: Checklist. Steps or checks to work through and tick off.
- Practice area: [Insolvency, Restructuring & Bankruptcy](https://ailawframework.com/precedents/insolvency-restructuring-and-bankruptcy.md)
- Jurisdictions: Commonwealth
- AI level: Yellow. You and the tool draft together, with you directing. You check every statement you rely on.
- Law stated as at: 2026-10-22
- Status: Maintained. Checked on 2026-10-22 against the authority it cites, for Commonwealth.

## When to use it

Use after a restructuring begins, to track the proposal period, any extension, and the creditors' acceptance period.

## Used for these tasks

- [Advise directors on entering small business restructuring](https://ailawframework.com/practice/insolvency-restructuring-and-bankruptcy/advise-directors-on-entering-small-business-restructuring.md)

## How AI may be used

The tool counts business days from the start date the lawyer enters, and the lawyer checks the count and whether an extension is available.

**AI may:**

- Enter the day the restructuring began and list the dates the lawyer calculates.
- Record whether the practitioner has used the one extension ASIC describes.

**AI must not:**

- Do not draft the restructuring plan or the restructuring proposal statement.
- Do not say that a plan has been accepted.
- Do not treat a calendar day as a business day.

**The lawyer checks:**

- ASIC says the proposal period generally lasts 20 business days from the day the restructuring begins, unless ended earlier or extended.
- The practitioner may extend once, by no more than 10 business days, at the company's request. The court may extend on the company's application.
- Acceptance is by a majority in value of affected creditors who return statements, usually within 15 business days. ASIC cites regulation 5.3B.25 for the value calculation. That regulation was not opened.

## Authorities

- [ASIC, Small business restructuring and the restructuring plan](https://www.asic.gov.au/regulatory-resources/insolvency/insolvency-for-directors/small-business-restructuring-and-the-restructuring-plan)

## Official form

[Official form](https://www.asic.gov.au/regulatory-resources/insolvency/insolvency-for-directors/small-business-restructuring-and-the-restructuring-plan)

## Full text and drafting notes

The full text and the drafting notes are not part of this public page. Signed-in firm accounts can read them at https://ailawframework.com/precedents/insolvency-restructuring-and-bankruptcy/restructuring-proposal-diary and through the signed-in MCP connector https://ailawframework.com/mcp/firm.

*Practice guidance for planning and review. Confirm current primary sources and the requirements of the actual matter. This is general information, not legal advice.*