Bankruptcy Amendment Act 1987 (Cth)
Section
1. Short title etc.
2. Commencement
3. Insertion of heading
4. Interpretation
5. Insertion of new sections:
5a. Acting in accordance with a person’s directions or instruction:
5b. Associated entities: companies
5c. Associated entities: natural persons
5d. Associated entities: partnerships
5e. Associated entities: trusts
5f. Controlling an entity in relation to a matter
5g.Financial affairs of a company
5h. Financial affairs of a natural person
5j. Financial affairs of a partnership
5k. Financial affairs of a trust
6. Insertion of new section:
6a. Statements of affairs
7. Application of Act
8. Repeal of section 10 and substitution of new section:
10. Delegation by Minister or Secretary
9. Functions of Inspector-General
10. Duties etc. of trustees and of Official Receivers
11. Insertion of new section:
19aa. Investigation of bankrupt by trustee or Official Receiver
12. Investment of money in Common Fund
13. General powers of Courts in bankruptcy
14. Exercise of jurisdiction
15. Insertion of new section:
34a. Standard of proof
16. Acts of bankruptcy
17. Taking control of debtor’s property before sequestration
18. Bankrupt’s statement of affairs
TABLE
OF PROVISIONS—
Section
19. Insertion of new Division:
54a. Presentation of declaration
54b. When debtor disqualified from presenting declaration
54c. Acceptance or rejection of declaration
54d. Registrar to supply information to debtor
54e. Enforcement suspended during stay period
54f. Duties of sheriff
54g. Duty of court registrar
54h. Duties of person entitled to deduct money owing to declared debtor
54j. Extension of time where this Division prevents the doing of an act
54k Section 33 not to apply to this Division
54l. Secured creditor’s rights under security not affected
20. Debtor’s petition
21. Debtor’s petition against partnership
22. Debtor’s petition by joint debtors who are not partners
23. Second or subsequent bankruptcy
24. Amendment of heading
25. Repeal of section 64 and substitution of new section:
64. Meetings of creditors
26. Election of chairman
27. Entitlement to vote at meeting of creditors
28. Manner of voting
29. Admission and rejection of claim to vote
30. Public examination of bankrupt
31. Committee of inspection
32. Approval by Court
33. Application of Part VIII to trustee of a composition or arrangement
34. Duties of bankrupt as to discovery etc. of property
35. Insertion of new section:
77a. Access by trustee or Official Receiver to books of associated entity
36. Insertion of new section:
77b. Bankrupt to assist Official Receiver
37. Arrest of debtor or bankrupt
38. Discovery of bankrupt’s property etc.
39. Debts provable in bankruptcy
40. Inspection of proofs by creditors etc.
41. Priority payments
42. Repeal of sections 111 and 112
43. Property divisible among creditors
44. Avoidance of voluntary and marriage settlements
45. Protection of certain transactions against relation back etc.
46. Trustee to take possession of property of bankrupt
47. Repeal of section 130 and substitution of new section:
130. Warrant for seizure of property connected with bankrupt
48. Disclaimer of onerous property
49. Powers exercisable at discretion of trustee
50. Powers exercisable by the trustee with permission
51. Insertion of new Division:
139a. Trustee may apply to Court
139b. Application to be served on respondent entity
139c. Who may appear at hearing
139d. Order relating to property of entity
139e. Order relating to entity’s net worth
139f. Court to take account of interests of other persons
139g. Giving effect to orders under sections 139d and 139e
139h. Entity entitled to claim in bankruptcy
52. Declaration and distribution of dividends
TABLE
OF PROVISIONS—
Section
53. Discharge by the Court
54. Registration of natural persons as trustees
55. Appointment of trustees
56. Vacancy in office of trustee
57. Repeal of section 176 and substitution of new section:
176. Court may order trustee to make good loss caused by breach of duty
58. Control of creditors over trustees
59. Control of trustees by the Court
60. Insertion of new Division:
179a. Application for person to be examined
179b. Registrar may summon trustee or other person
179c. Content of summons
179d. Holding of examination
179e. Further hearing before the Court
179f. Legal representation at examination
179g. Questions put at examination
179h. Production of books
179j. Costs of examination
179k. Notes of examination
61. Repeal of section 187a and substitution of new section:
187a. Application of Part to joint debtors
62. Debtor may authorise trustee or solicitor to call meeting of creditors etc.
63. Effect of authority under section 188 to registered trustee
64. Insertion of new sections:
189a. Trustee to prepare report
189b. Trustee or solicitor to prepare statement about possible resolution
65. Duties and powers of trustee and solicitor
66. Death of trustee to whom authority is given etc.
67. Remuneration of controlling trustee
68. Calling of meeting
69. Debtor to attend meeting
70. Entitlement to vote at meeting
71. Manner of voting
72. Resolution for deed of assignment etc.
73. Repeal of section 212 and substitution of new section:
212. Court may order controlling trustee to make good loss caused by breach of duty
74. Control of controlling trustee by the Court
75. Insertion of new Division:
212c. Application for person to be examined
212d. Registrar may summon controlling trustee or other person
212e. Content of summons
212f. Application of sections 179d to 179k
76. Insertion of new sections:
215a. Nomination or appointment of trustee of deed or composition
215b. Duties of chairman
77. Notice of execution of deed or acceptance of composition
78. Sequestration order where debtor fails to attend meeting, execute deed etc.
79. Power of the Court to declare deed or composition void
80. Calling of meetings after the first meeting
81. Application of Part in relation to meetings
82. Creditor may inspect deed etc.
83. Application of general provisions of Act to deeds of assignment
84. Application of general provisions of Act to deeds of arrangement
85. Application of general provisions of Act to compositions
86. Filing of statement of deceased debtor’s affairs etc. by legal personal representative
TABLE
OF PROVISIONS—
Section
87. Petition for administration under this Part by person administering deceased person’s estate
88. Application of Act in relation to administrations under this Part
89. Effect of order under Part where deceased person was bankrupt
90. Presumption about due convening of meetings etc
91. Insertion of new section:
263c. False particulars of debt
92. Failure of person to attend before the Court etc.
93. Arrest of person failing to attend before the Court etc.
94. Refusal to be sworn or give evidence etc.
95. Prevarication or evasion in the course of examination
96. Offences in relation to Registrar or magistrate conducting an examination
97. Failure of bankrupt or debtor to disclose property etc.
98. Insertion of new section:
265a. Offences relating to exercise of powers under section 77a, 77b or 130
99. Offences in relation to deeds and compositions
100. Insertion of new section:
268a. False or misleading declaration under section 215a
101. Bankrupt obtaining credit etc. without disclosing bankruptcy
102. Bankrupts under repealed Act
103. Payment of expenses by Commonwealth
104. Protection of Registrars, magistrates etc. in relation to examinations
105. Protection in respect of reports
106. Application of certain amendments
107. Some amendments made for avoidance of doubt
[
BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:
operation on the twenty-eighth day after the day on which this Act receives the Royal Assent.
(a) by inserting “paper,” before “writing” in the definition of “books” in subsection (1);
(b) by omitting “other” from the definition of “books” in subsection (1);
(c) by omitting “or” (last occurring) from paragraph (c) of the definition of “the trustee” in subsection (1);
(d) by adding the following word and paragraph at the end of the definition of “the trustee” in subsection (1):
“or (e) in relation to a trust:
(i) if only one person is a trustee of the trust—that person; or
(ii) if 2 or more persons are trustees of the trust-any one or more of those persons;
in his, her or its capacity as a trustee, or in their respective capacities as trustees, as the case may be, of the trust;”;
(e) by omitting from subsection (1) the definitions of “corporation” and “the property of the bankrupt” and respectively substituting the following definitions:
“ ‘corporation’ includes any body corporate;
‘the property of the bankrupt’, in relation to a bankrupt, means:
(a) except in subsections 58 (3) and (4):
(i) the property divisible among the bankrupt’s creditors; and
(ii) any rights and powers in relation to that property that would have been exercisable by the bankrupt if he or she had not become a bankrupt; and
(b) in subsections 58 (3) and (4):
(i) the property, rights and powers referred to in paragraph (a) of this definition; and
(ii) any other property of the bankrupt;”;
(f) by omitting from subsection (1) the definition of “the first meeting of creditors”;
(g) by inserting in subsection (1) the following definitions in their respective appropriate alphabetical positions (determined on a letter-by-letter basis):
“ ‘associated entity’, in relation to a person, means:
(a) an entity (other than a company) that is, or has been, associated with the person; or
(b) a company that is, or has been, associated with the person at a time when the company is, or was, as the case may be, a private company;
‘breach of duty’ means malfeasance, misfeasance, negligence, wilful default or breach of trust;
‘child’, in relation to a person, includes an adopted child, a stepchild, or an ex-nuptial child, of the person;
‘close relative’, in relation to a person, means a spouse, de facto spouse, parent, child, brother, sister, half-brother, or half-sister, of the person;
‘company’ means a corporation, other than a corporation that is incorporated within Australia or an external Territory and is:
(a) a public authority; or
(b) an instrumentality or agency of the Crown in right of the Commonwealth, in right of a State or in right of a Territory of the Commonwealth;
‘company officer’, in relation to a corporation, includes:
(a) a director or secretary of the corporation;
(b) a receiver and manager of property of the corporation appointed under a power contained in an instrument;
(c) an official manager or deputy official manager of the corporation;
(d) a liquidator of the corporation appointed in a voluntary winding up of the corporation; and
(e) a trustee or other person administering a compromise or arrangement made between the corporation and another person or other persons;
but does not include:
(f) a receiver who is not also a manager;
(g) a receiver and manager appointed by a court; or
(h) a liquidator appointed by a court;
‘declaration of intention’ means a declaration that has been presented under section 54a and accepted under section 54c;
‘declared debtor’ means a debtor who has presented under section 54a a declaration of intention;
‘de facto spouse’, in relation to a person, means an individual of the opposite sex to that person who is living with that
person as his or her spouse on a
bona fide domestic basis although not legally married to that person;‘director’, in relation to a corporation, includes:
(a) any person occupying or acting in the position of director of the corporation, by whatever name called and whether or not validly appointed to occupy, or duly authorised to act in, the position;
(b) any person in accordance with whose directions or instructions the directors of the corporation are accustomed to act; and
(c) if the corporation has a committee of management, council or other governing body:
(i) a member of that committee of management, council or other governing body;
(ii) any person occupying or acting in the position of member of that committee of management, council or other governing body, by whatever name called and whether or not validly appointed to occupy, or duly authorised to act, in the position; and
(iii) any person in accordance with whose directions or instructions the members of that committee of management, council or other governing body are accustomed to act;
‘end’ means:
(a) in relation to a bankruptcy—the discharge of the bankrupt from the bankruptcy;
(b) in relation to:
(i) a deed of assignment, deed of arrangement, or composition, under Part X; or
(ii) a composition or scheme of arrangement under Division 6 of Part IV;
the time when the deed, composition or scheme, as the case may be, ceases to be in effect; or
(c) in relation to an administration under Part XI—the end of the administration;
‘enforcement process’, in relation to a frozen debt, means, in the case of a judgment debt:
(a) process of a court issued to enforce in any manner payment of the judgment debt; or
(b) without limiting the generality of paragraph (a), process of a court for attaching, in order to meet the judgment debt, a debt or other money payable or owing, or to become payable or owing, to the declared debtor;
‘entity’ means a natural person, company, partnership or trust;
‘examinable affairs’, in relation to a person, means:
(a) the person’s dealings, transactions, property and affairs; and
(b) the financial affairs of an associated entity of the person, in so far as they are, or appear to be, relevant to the person or to any of his or her conduct, dealings, transactions, property and affairs;
‘examinable matter’ means:
(a) in relation to a person who is or has been a trustee of a bankrupt’s estate—the administration by the person of a bankrupt’s estate or, without limiting the generality of the foregoing, any act done, or omitted to be done, by or on behalf of the person in connection with the administration of a bankrupt’s estate; or
(b) in relation to a person who is or has been the controlling trustee, within the meaning of Part X, in relation to a debtor whose property has become subject to control under Division 2 of that Part:
(i) the performance or exercise by the person; or
(ii) without limiting the generality of subparagraph (i), any act done, or omitted to be done, by or on behalf of the person in connection with the performance or exercise;
of a function, duty or power of the person as the controlling trustee, within the meaning of that Part, in relation to such a debtor;
‘examinable period’, in relation to an application under section 139a by the trustee of a bankrupt’s estate, means the period beginning:
(a) if, at a time or times during the period beginning 4 years before, and ending 2 years before, the commencement of the bankruptcy, the bankrupt became unable to pay his or her debts, as they became due, from his or her own money—at that time, or at the first of those times, as the case may be; or
(b) in any other case—2 years before the commencement of the bankruptcy;
and ending on the day on which the application is made;
‘examinable person’, in relation to a person (in this definition called the ‘relevant person’), means:
(a) if the relevant person is a debtor and property of the debtor is known or suspected to be in the possession of a person—that person;
(b) if the relevant person has become a bankrupt and any of the property of the bankrupt is known or suspected to be in the possession of a person—that person;
(c) in any case—a person who is believed to be indebted to the relevant person;
(d) if a person, including:
(i) a person who is an associated entity of the relevant person; or
(ii) a person with whom an associated entity of the relevant person is or has been associated;
may be able to give information about the relevant person or any of the relevant person’s examinable affairs—that person; or
(e) if books (including books of an associated entity of the relevant person):
(i) are in the possession of a person, including a person of a kind referred to in subparagraph (d) (i) or (ii); and
(ii) may relate to the relevant person or any of the relevant person’s examinable affairs;
that person;
‘frozen debt’ means a debt that:
(a) is owed by a declared debtor; and
(b) would, if the debtor had become a bankrupt when the declaration of intention was accepted under section 54c, be provable in the bankruptcy;
but does not include a debt in respect of the debtor’s liability under a maintenance agreement or maintenance order (whenever entered into or made);
‘in the possession of includes in the custody of or under the control of;
‘modifications’ includes additions, omissions and substitutions;
‘net value’, in relation to property, means:
(a) if the property is unencumbered—the value of the property;
(b) if the property is encumbered and the unencumbered value of the property exceeds the amount or value of the encumbrances—the amount of the excess; or
(c) in any other case—a nil amount;
‘net worth’, in relation to an entity, in relation to a time, means:
(a) if the entity is a trust and the total value of the trust property as at that time exceeds the total of the amounts of the trustee’s liabilities as at that time (other than liabilities constituted by the rights of
persons as beneficiaries under the trust)—the amount of the excess;
(b) if the entity is not a trust and the total value of the entity’s assets as at that time exceeds the total of the amounts of the entity’s liabilities as at that time—the amount of the excess; or
(c) in any other case—a nil amount;
‘operations’, in relation to an entity, means all of the following:
(a) the business, trading, transactions and dealings of the entity:
(i) whether alone or jointly with another entity or other entities; and
(ii) whether or not as agent, bailee or trustee;
(b) the profits, income and receipts of the entity;
(c) the losses, outgoings and expenditure of the entity,
‘parent’, in relation to a person, means a person of whom the first-mentioned person is a child;
‘personal services’, in relation to a bankrupt, means services of a physical, intellectual or other kind supplied by the bankrupt himself or herself:
(a) whether or not in a capacity as employee; and
(b) whether or not the supply of the services by the bankrupt discharged the obligations of an entity to supply services;
‘premises’ includes:
(a) any land;
(b) any structure, building, aircraft, vehicle, vessel or place (whether built on or not); and
(c) any part of such a structure, building, aircraft, vehicle, vessel or place;
‘private company’, in relation to a particular time, means a company other than a company that, as at that time:
(a) has been admitted to the official list of a securities exchange within the meaning of the
Securities Industry Act 1980 or a law of a State or the Northern Territory corresponding to that Act; and(b) has not been removed from that official list;
‘proceeds’, in relation to enforcement process in respect of a debt, means:
(a) the proceeds of selling property under the enforcement process;
(b) money taken under the enforcement process;
(c) money received as a result of attachment under the enforcement process; or
(d) money paid to avoid the taking or sale of property under, or to avoid attachment under, the enforcement process;
‘professional advice’ means financial, business or legal advice given by a person in the performance of the functions attaching to the person’s professional capacity;
‘state of affairs’, in relation to an entity, means all of the following:
(a) the property and assets of the entity:
(i) whether held alone or jointly with another person or other persons; and
(ii) whether or not held as agent, bailee or trustee;
(b) the liabilities of the entity:
(i) whether actual or contingent;
(ii) whether owed alone or jointly with another person or other persons; and
(iii) whether or not owed as trustee;
‘stay period’, in relation to a declaration of intention presented by a debtor, means the period beginning on the day on which the declaration was accepted under section 54c and ending when:
(a) the period of 7 days beginning on that day ends;
(b) a creditor’s petition or a debtor’s petition is presented against the debtor;
(c) the debtor signs an authority under section 188; or
(d) a sequestration order is made against the debtor;
whichever happens first;”; and
(h) by inserting after subsection (1) the following subsections:
“(1a) A reference in this Act to books of an associated entity of a person does not limit the generality of any other reference in this Act to books.
“(1b) A reference in this Act to an entity includes, in the case of a trust, a reference to the trustee of the trust.
“(1c) Paragraph (b) of the definition of ‘examinable affairs’ in subsection (1) does not limit the generality of a reference in this Act to a person’s conduct, dealings, transactions, property or affairs.”.
“5a. For the purposes of this Act, a person shall not be regarded as a person in accordance with whose directions or instructions the directors of a body corporate are accustomed to act merely because the directors act on advice given by the person in the proper performance of the functions attaching to the person’s professional capacity or to the person’s business relationship with the directors or with the body corporate.
“5b. For the purposes of this Act, a company is associated with a person if, and only if, the person:
(a) is a company officer of the company or otherwise is concerned, or takes part, in the company’s management;
(b) is able to control, or to influence materially, the company’s activities or internal affairs;
(c) is a member of the company;
(d) is in a position to cast, or to control the casting of, a vote at a general meeting of the company;
(e) has power to dispose of, or to exercise control over the disposal of, a share in the company;
(f) is financially interested in the company’s success or failure or apparent success or failure;
(g) is owed a debt by the company;
(h) is employed, or is engaged under a contract for services, by the company;
(j) acts as agent for the company in any transaction or dealing; or
(k) gives professional advice to the company.
“5c. For the purposes of this Act, a natural person (in this section called the ‘associate’) is associated with another person if, and only if, the other person:
(a) is a close relative of the associate;
(b) is a trustee of a trust under which the associate is capable of benefiting;
(c) is employed, or is engaged under a contract for services, by the associate;
(d) acts as agent for the associate in any transaction or dealing;
(e) is an attorney of the associate under a power of attorney;
(f) has appointed the associate as the other person’s attorney under a power of attorney;
(g) gives professional advice to the associate; or
(h) is given professional advice by the associate.
“5d. For the purposes of this Act, a partnership is associated with a person if, and only if, the person:
(a) is a partner in the partnership;
(b) is able to control, or to influence materially, the partnership’s activities or internal affairs;
(c) is financially interested in the partnership’s success or failure or apparent success or failure;
(d) is a creditor of the partnership;
(e) is employed, or is engaged under a contract for services, by the partnership;
(f) acts as agent for the partnership in any transaction or dealing; or
(g) gives professional advice to the partnership.
“5e. For the purposes of this Act, a trust is associated with a person if, and only if, the person:
(a) is the settlor, or one of the settlors, of the trust;
(b) has power under the terms of the trust to appoint or remove a trustee of the trust or to vary, or cause to be varied, any of the terms of the trust;
(c) is a trustee of the trust;
(d) is able to control, or to influence materially, the activities of the trustee of the trust;
(e) if a trustee of the trust is a company—is a company officer of the company or otherwise is concerned, or takes part, in the company’s management;
(f) is capable of benefiting under the trust;
(g) is a creditor of the trustee of the trust;
(h) is employed, or is engaged under a contract for services, by the trustee of the trust;
(j) acts as agent for the trustee of the trust in any transaction or dealing; or
(k) gives professional advice to the trustee of the trust.
“5f. (1) Subject to this section, a person shall be taken, for the purposes of this Act, to control an entity at a particular time in relation to a matter if, and only if:
(a) no act, omission or decision inconsistent with the person’s directions, instructions or wishes was; and
(b) having regard to all the circumstances, it may reasonably be expected that no such act, omission or decision would have been;
done or made at that time, in relation to the matter, by or on behalf of the entity.
“(2) A person shall not be taken to control an entity at a particular time in relation to a matter merely because:
(a) no act, omission or decision inconsistent with advice given by the person in the proper performance of the functions attaching to his or her professional capacity, or to his or her business relationship with the entity, was; and
(b) having regard to all the circumstances, it may reasonably be expected that no such act, omission or decision would have been;
done or made at that time, in relation to that matter, by or on behalf of the entity.
“(3) A reference in subsection (1) or (2), in relation to a matter, to an act, omission or decision is a reference to an act, omission or decision that, having regard to the nature of that matter, is of substantial importance.
“(4) A person shall not be taken to control a company at a particular time in relation to a matter if the company is not a private company at that time.
“5g. For the purposes of this Act, a company’s financial affairs include:
(a) the company’s promotion, formation, membership, control, operations and state of affairs;
(b) the management and proceedings of the company;
(c) any act or thing done (including any contract made and any transaction entered into) by or on behalf of the company, or to or in relation to the company or its business or property, at a time when:
(i) a receiver, or a receiver and manager, is in possession of, or has control over, property of the company;
(ii) the company is under official management;
(iii) a compromise or arrangement made between the company and another person or other persons is being administered; or
(iv) the company is being wound up;
and, without limiting the generality of the foregoing, any conduct of such a receiver or such a receiver and manager, of any person appointed as the official manager or deputy official manager of the company, of any person administering such a compromise or arrangement or of any liquidator or provisional liquidator of the company;
(d) the ownership of shares in, and debentures of, the company;
(e) the power of persons to exercise, or to control the exercise of, the rights to vote attached to shares in the company or to dispose of, or to exercise control over the disposal of, such shares;
(f) the circumstances under which a person acquired or disposed of, or became entitled to acquire or dispose of, shares in, or debentures of, the company; and
(g) matters concerned with ascertaining the persons with whom the company is or has been associated.
“5h. For the purposes of this Act, the financial affairs of a natural person include:
(a) the person’s operations and state of affairs;
(b) any act or thing done (including any contract made and any transaction entered into) by or on behalf of the person, or to or in relation to the person or his or her business or property, at a time when:
(i) the person was, under this Act or the law of an external Territory, a bankrupt in respect of a bankruptcy from which the person had not been discharged;
(ii) the person had, under the law of an external Territory or the law of a country other than Australia, the status of an undischarged bankrupt;
(iii) the property of the person was subject to control under Division 2 of Part X by reason of an authority given by the person under section 188; or
(iv) a deed of assignment, deed of arrangement, or composition, under Part X or under the corresponding provisions of a law of an external Territory or a country other than Australia was in effect in relation to the person or the person’s property;
(c) without limiting the generality of paragraph (b), any conduct of the trustee of such a bankrupt estate or of such a deed of assignment or arrangement, a person acting under such an authority or a person administering such a composition; and
(d) matters concerned with ascertaining the persons with whom the person is or has been associated.
“5j. For the purposes of this Act, the financial affairs of a partnership include:
(a) the partnership’s promotion, formation, membership, control, operations and state of affairs;
(b) the management and proceedings of the partnership;
(c) any act or thing done (including any contract made and transaction entered into) on behalf of the partnership, or to or in relation to
the partnership, at a time when the partnership is being wound up; and
(d) matters concerned with ascertaining the persons with whom the partnership is or has been associated.
“5k. For the purposes of this Act, the financial affairs of a trust include:
(a) the creation of the trust;
(b) matters arising under, or otherwise relating to, the terms of the trust;
(c) the appointment and removal of a trustee of the trust;
(d) the business, trading, transactions and dealings of the trustee of the trust;
(e) the profits, income and receipts of the trustee of the trust;
(f) the losses, outgoings and expenditure of the trustee of the trust;
(g) the trust property, including transactions and dealings in, and the income arising from, the trust property;
(h) the liabilities of the trustee of the trust;
(j) the management of the trust;
(k) any act or thing done (including any contract made and transaction entered into) by or on behalf of the trustee of the trust, or to or in relation to the trust, at a time when the trust is being wound up;
(m) matters concerned with ascertaining the persons with whom the trust is or has been associated; and
(n) matters concerned with ascertaining the rights of the beneficiaries under the trust and any payments, or distributions of property, that the beneficiaries have received, or are entitled to receive, under the terms of the trust.”.
“6a. (1) A reference in a relevant provision to:
(a) a statement of particular affairs; or
(b) a statement of a deceased person’s affairs and of a person’s administration of the deceased person’s estate;
is a reference to a statement of those affairs, or of those affairs and that administration, as the case may be, that:
(c) contains such information as is prescribed for the purposes of that provision; and
(d) is verified by affidavit.
“(2) In subsection (1):
‘relevant provision’ means subsection 54 (1) or (2) or 55 (2), paragraph 56 (2) (a) or (b) or (13) (a) or (b) or 57 (2) (a) or (b), subparagraph 188 (2) (c) (i), paragraph 246 (1) (a) or subsection 247 (1).
(a) by omitting paragraph (2) (b) and substituting the following paragraph:
“(b) a partnership or association registered under a law of the Commonwealth, of a State, or of a Territory of the Commonwealth, that provides for the winding up of a partnership or association registered under that law.”;
(b) by omitting from subsection (3) “Subject to such modifications and adaptations, if any, as are prescribed by the rules, the provisions of this Act apply to and” and substituting “This Act applies, with the prescribed modifications (if any),”; and
(c) by omitting subsection (4).
“10. (1) The Minister may, either generally or as otherwise provided in the instrument of delegation, by writing signed by him or her, delegate to an officer all or any of the Minister’s powers under this Act, other than this power of delegation.
“(2) A power delegated under subsection (1) shall, when exercised by a delegate, be deemed to have been exercised by the Minister.
“(3) A delegation under subsection (1) does not prevent the exercise of a power by the Minister.
“(4) The Secretary may, either generally or as otherwise provided in the instrument of delegation, by writing signed by him or her, delegate to an officer all or any of the Secretary’s powers under this Act, other than this power of delegation.
“(5) A power delegated under subsection (4) shall, when exercised by a delegate, be deemed to have been exercised by the Secretary.
“(6) A delegation under subsection (4) does not prevent the exercise of a power by the Secretary.
“(7) In this section:
‘exercise’ includes perform;
‘officer’ means a person holding, or performing the duties of, an office in the Department;
‘power’ includes a function;
‘Secretary’ means the Secretary to the Department.”.
(a) by omitting from paragraph (1) (ba) “the conduct, trade dealings, property and affairs” and substituting “so much of the conduct and examinable affairs”;
(b) by omitting subparagraph (1) (ba) (iii) and substituting the following:
“(iii) a debtor under a deed of assignment, deed of arrangement, or composition, under Part X;
as is relevant to the bankruptcy, deed of assignment, scheme or deed of arrangement, or composition, as the case may be;”; and
(c) by inserting after subsection (1a) the following subsection:
“(1ba) The Inspector-General may make an inquiry or investigation under paragraph (1) (b) or (ba) at any time, whether before or after the end of the bankruptcy, deed of assignment, scheme or deed of arrangement, composition or administration concerned.”.
(2) The amendments made by subsection (1):(a) apply in relation to a bankrupt in respect of a bankruptcy if, and only if, the date of the bankruptcy occurs on or after the day of commencement of this section;
(b) apply in relation to a bankrupt or debtor under a composition or scheme of arrangement under Division 6 of Part IV of the
Bankruptcy Act 1966 if, and only if, the composition or scheme is approved by the Court on or after the day of that commencement; and(c) apply in relation to a debtor under a deed of assignment, deed of arrangement, or composition, under Part X of the
Bankruptcy Act 1966 if, and only if, the deed is executed or the composition is accepted, as the case may be, on or after the day of that commencement.
(a) by omitting paragraphs (1) (c) and (d) and substituting the following paragraphs:
“(d) to convene a meeting of the bankrupt’s creditors whenever required by subsection 64 (1);
(da) to attend, or to arrange for a person (authorised in writing by the trustee) to attend on the trustee’s behalf, a meeting of the bankrupt’s creditors that is convened under section 64;”;
(b) by omitting from paragraph (1) (e) “has made an application” and substituting “applies”;
(c) by adding at the end of paragraph (1) (f) “and”;
(d) by omitting paragraph (1) (g);
(e) by omitting from subsections (1a) and (1b) “bankrupt” (wherever occurring) and substituting “person”; and
(f) by omitting subsection (1c).
“19aa. (1) Where a person becomes a bankrupt:
(a) the trustee shall, to the extent that the trustee, having regard to all the circumstances of the case, considers it desirable to do so at any time (whether before or after the end of the bankruptcy), investigate; and
(b) the Official Receiver may, to the extent that the trustee has indicated to the Official Receiver that the trustee does not propose to do so, investigate at any time (whether before or after the end of the bankruptcy);
the following matters:
(c) so much of the bankrupt’s conduct and examinable affairs, and the books, accounts and records kept by the bankrupt, as is relevant to the bankruptcy;
(d) the cause of the bankruptcy.
“(2) A person who conducts an investigation under subsection (1) shall file with the Registrar:
(a) a written report about the results of the investigation; and
(b) such supplementary written reports about the matters to which the investigation relates as the person considers desirable, having regard to all the circumstances of the case.”.
(a) by inserting in paragraph (5) (a) “or requirement” after “direction” (last occurring);
(b) by omitting paragraph (5) (b) and substituting the following paragraph:
“(b) a trustee has failed to comply with an order, direction or requirement of a Registrar, or with a requirement or request of the Inspector-General, under this Act;”;
(c) by omitting from paragraph (5) (c) “or requirement” and substituting “, requirement or request, as the case may be,”; and
(d) by omitting from subsection (6) “or requirement” and substituting “, requirement or request, as the case may be”.
“(ea) applications under section 139a;”.
“34a. (1) Where, in proceedings in the Court (other than proceedings for an offence), it is necessary, for a purpose relating to a matter arising under this Act, to establish, or for the Court to be satisfied as to, a particular fact (including a contravention of this Act), it is sufficient if that fact is established, or the Court is satisfied as to that fact, as the case may be, on the balance of probabilities.
“(2) Subsection (1) has effect except to the extent that this Act expressly provides otherwise.”.
(a) by inserting after paragraph (1) (d) the following paragraph:
“(da) if the debtor presents to the Registrar a declaration under section 54a;”; and
(b) by omitting from paragraph (1) (k) “or to submit to such a meeting the statement referred to in section 195”.
“(2) Without limiting the generality of subsection (1), the Court may, at any time after giving a direction under subsection (1), summon the debtor, or an examinable person in relation to the debtor, for examination under this section in relation to the debtor.
“(3) A summons to a person under subsection (2) shall require the person to attend:
(a) at a specified place and at a specified time on a specified day; and
(b) before the Court, the Registrar or a magistrate, as specified in the summons;
to be examined on oath under this section about the debtor and the debtor’s examinable affairs.
“(4) A summons to a person under subsection (2) may require the person to produce at the examination books (including books of an associated entity of the debtor) that:
(a) are in the possession of the first-mentioned person; and
(b) relate to the debtor or to any of the debtor’s examinable affairs.
“(5) For the purpose of the examination under this section of a person summoned under subsection (2), subsections 81 (2) to (17), inclusive, apply, with the prescribed modifications (if any), as if:
(a) a sequestration order had been made against the debtor when the Court gave the direction under subsection (1) of this section;
(b) the examination were being held under section 81; and
(c) a reference in those subsections to a creditor were a reference to a person who has a debt that would be provable in the debtor’s bankruptcy if a sequestration order had been made as mentioned in paragraph (a) of this subsection.”.
“54a. Subject to section 54b, a debtor may present to the Registrar a declaration, in accordance with the prescribed form, of the debtor’s intention to present a debtor’s petition.
“54b. A debtor is not entitled to present a declaration under section 54a:
(a) when the debtor is not entitled, except with the leave of the Court, to present a petition under section 55;
(b) after a creditor’s petition presented against the debtor is served on the debtor and before:
(i) a sequestration order is made on the petition;
(ii) the petition is withdrawn or dismissed; or
(iii) the petition lapses under subsection 52 (4);
(c) after a debtor’s petition is presented against the debtor and before the petition is accepted or rejected;
(d) while the debtor’s property is subject to control under Division 2 of Part X;
(e) within 6 months after the debtor signs an authority under section 188; or
(f) within 12 months after a declaration presented by the debtor under section 54a is accepted under section 54c.
“54c. Subject to section 54d, where a debtor presents a declaration under section 54a, the Registrar shall:
(a) if it appears to the Registrar that the debtor is entitled to present a declaration under section 54a and that the declaration presented is in accordance with the prescribed form:
(i) accept the declaration and endorse it accordingly; and
(ii) forthwith sign and seal a copy of the declaration; or
(b) in any other case—reject the declaration.
“54d. (1) The Registrar shall not accept a declaration presented by a debtor under section 54a unless the Registrar is satisfied that the debtor’s attention has been directed to:
(a) the procedures under this Act for dealing with the debtor’s financial affairs; and
(b) the availability, and sources, of advice and guidance about how the debtor can deal with his or her financial difficulties.
“(2) A contravention of subsection (1) does not affect the validity of the Registrar’s acceptance under section 54c of a declaration presented under section 54a.
“54e. (1) Where, during the stay period in relation to a declaration of intention presented by a debtor, a sealed copy of the declaration is produced to a creditor to whom the debtor owes a frozen debt, subsection (2) has effect throughout the remainder of that period.
“(2) It is not competent for the creditor:
(a) to apply for the issue of enforcement process in respect of the debt; or
(b) to enforce a remedy against the debtor’s person or property in respect of the debt.
“(3) Nothing in this section prevents a creditor from commencing a legal proceeding in respect of a debt, or from taking a fresh step in such a proceeding otherwise than in connection with enforcing a judgment.
“54f. (1) Where, during the stay period in relation to a declaration of intention presented by a debtor, a sealed copy of the declaration is produced to a sheriff, subsections (2) and (3) have effect throughout the remainder of that period.
“(2) The sheriff shall refrain from taking action, or further action, to execute, or to sell property under, enforcement process issued in respect of a frozen debt owed by the debtor.
“(3) The sheriff shall refrain from paying to a person proceeds of enforcement process issued in respect of a frozen debt owed by the debtor.
“(4) A contravention of this section does not affect a person’s title to property that was purchased in good faith under a sale under enforcement process issued in respect of a debt.
“(5) Where:
(a) under this section, a sheriff refrains from taking action, or further action, to sell real property under enforcement process issued in respect of a debt;
(b) the debtor becomes a bankrupt; and
(c) the property vests in the trustee of the bankrupt’s estate;
the costs of executing the enforcement process are a first charge on the property.
“54g. Where, during the stay period in relation to a declaration of intention presented by a debtor, a sealed copy of the declaration is produced to the registrar or other appropriate officer of a court, the registrar or other officer shall, throughout the remainder of that period, refrain from paying to a person proceeds of enforcement process issued in respect of a frozen debt owed by the debtor.
“54h. (1) Where, during the stay period in relation to a declaration of intention presented by a debtor, a sealed copy of the declaration is produced to a person who is entitled under a law of the Commonwealth, of a State, or of a Territory of the Commonwealth:
(a) to retain or deduct money from money payable or owing, or to become payable or owing, to the debtor; and
(b) to apply the retained or deducted money toward discharging a frozen debt owed by the debtor to any person;
subsections (2) and (3) apply.
“(2) The person shall, throughout the remainder of that period:
(a) refrain from so retaining or deducting money; and
(b) refrain from paying to a person (other than the debtor), or otherwise applying, money that was so retained or deducted before the sealed copy was produced to the person.
“(3) Nothing in this section affects a person’s liability to pay money to the debtor.
“(4) Nothing in this section affects the operation of section 218 of the
Income Tax Assessment Act 1936.
“54j. Where, throughout a particular period, this Division prevents the doing of a particular act, that period shall be disregarded in determining, for the purposes of any law, agreement or instrument, whether or not that act has been done within a particular period or before a particular time.
“54k. Nothing in section 33 permits the extension or abridgment of a period or time limited by this Division.
“54l. Nothing in this Division affects the right of a secured creditor to realise or otherwise deal with the creditor’s security.”.
“(1) Subject to this section, a debtor may present to the Registrar a petition against himself or herself.
“(2) A petition presented by a debtor under this section:
(a) shall be in accordance with the prescribed form; and
(b) shall be accompanied by a statement of the debtor’s affairs and a copy of that statement.
“(3) Where a petition is presented under this section, the Registrar shall:
(a) if it appears to the Registrar that the petition, and the statement of affairs accompanying the petition, comply with subsection (2)—accept the petition; or
(b) in any other case—reject the petition or refer it to the Court for a direction to accept or reject it.
“(4) The Registrar shall comply with a direction given by the Court on a reference under subsection (3).
“(4a) Where the Registrar accepts a petition presented under this section:
(a) he or she shall endorse the petition accordingly; and
(b) upon the Registrar endorsing the petition, the debtor who presented the petition becomes a bankrupt by force of this section and by virtue of presentation of the petition.”.
(a) by inserting in subsection (2) “shall be in accordance with the prescribed form and” after “section”;
(b) by omitting from paragraphs (2) (a) and (b) “, verified by affidavit”;
(c) by omitting subsection (3);
(d) by omitting paragraphs (4) (a) and (b) and substituting the following paragraphs:
“(a) it appears to the Registrar that a petition presented under this section, and each statement of affairs accompanying the petition, comply with subsection (2); or
(b) on a reference under subsection (5) or (6), the Court directs the Registrar to accept a petition presented under this section;”;
(e) by omitting subsection (5) and substituting the following subsection:
“(5) Where it appears to the Registrar that a petition presented under this section, or a statement of affairs accompanying such a petition, does not comply with subsection (2), the Registrar shall:
(a) reject the petition; or
(b) refer the petition to the Court for a direction to accept or reject the petition.”;
(f) by omitting from paragraph (7) (c) “not to accept” and substituting “to reject”;
(g) by inserting after subsection (7) the following subsection:
“(7a) The Registrar shall reject a petition where so directed on a reference under subsection (5) or (6).”;
(h) by omitting from subsection (8) “under subsection (5) or (7) of this section” and substituting “on a reference under subsection (5) or (6)”; and
(j) by omitting subsection (14).
(a) by inserting in subsection (2) “shall be in accordance with the prescribed form and” after “section”;
(b) by omitting from paragraphs (2) (a) and (b) “, verified by affidavit”; and
(c) by omitting subsections (3), (4) and (5) and substituting the following subsections:
“(3) Where a petition is presented under this section, the Registrar shall:
(a) if it appears to the Registrar that the petition, and each statement of affairs accompanying the petition, comply with subsection (2)—accept the petition; or
(b) in any other case—reject the petition or refer it to the Court for a direction to accept or reject it.
“(4) The Registrar shall comply with a direction given on a reference under subsection (3).
“(5) Where the Registrar accepts a petition presented under this section:
(a) he or she shall endorse the petition accordingly; and
(b) upon the Registrar endorsing the petition, each of the petitioning debtors becomes a bankrupt by force of this section and by virtue of presentation of the petition.”.
(a) by inserting in subparagraph (1) (c) (i) “or remuneration” after “expenses”; and
(b) by inserting in sub-subparagraph (1) (c) (iii) (a) “, or his remuneration in the earlier bankruptcy that has,” after “have”.
“64. (1) The trustee shall convene a meeting of the creditors of a bankrupt:
(a) whenever the creditors so direct by resolution;
(b) whenever so requested in writing by at least one-fourth in value of the creditors; and
(c) whenever so requested in writing by less than one-fourth in value of the creditors, being a creditor who has, or creditors who together have, lodged with the trustee sufficient security for the cost of holding the meeting.
“(2) The trustee may convene at any time a meeting of the creditors of a bankrupt.”.
(a) by omitting from subsections (1), (2) and (5) “the first” and substituting “a”; and
(b) by inserting in subsection (5) “, or the de facto spouse,” after “spouse”.
(a) by omitting subsections (1) and (2) and substituting the following subsections:
“(1) Where a person (in this section called the ‘examinee’) becomes a bankrupt, the Official Receiver or the trustee of the examinee’s estate may, at any time (whether before or after the end of the bankruptcy), apply in writing to the Registrar for the examinee to be examined on oath under this section about his or her conduct and examinable affairs.
“(2) On receiving the application, the Registrar shall fix a reasonable day, time and place for the examination to begin and shall summon the examinee to attend on that day and at that time and place.”;
(b) by omitting from subsection (4) “of a bankrupt under this section” and “by instrument”;
(c) by omitting from paragraphs (5) (a), (b) and (c) “of the bankrupt”;
(d) by inserting in paragraph (5) (c) “with the consent in writing of the person who applied for the examination,” before “conclude”;
(e) by omitting subsection (8) and substituting the following subsection:
“(8) The examinee may be represented at the examination by counsel or a solicitor, who may re-examine the examinee after he or she has been examined.”;
(f) by omitting from subsections (9), (11), (12) and (20) “bankrupt” (wherever occurring) and substituting “examinee”;
(g) by inserting after subsection (11) the following subsection:
“(11a) Notwithstanding section (11), if the examinee has been discharged from the bankruptcy, a question about a matter or thing arising or occurring after the discharge shall not be put, or allowed to be put, to the examinee unless the question is about a matter or thing connected with the administration of the examinee’s estate.”;
(h) by inserting after subsection (12) the following subsections:
“(13) The Court, the Registrar or the magistrate may direct the examinee to produce at the examination specified books, or specified classes of books, that are in the possession of the examinee and are relevant to matters about which the examinee is being, or is to be, examined.
“(14) Without limiting the generality of subsection (13), a direction under that subsection may relate to books of an associated entity of the examinee.”;
(j) by omitting from subsection (18) “of the bankrupt under this section”; and
(k) by omitting from subsection (18) “bankrupt” (second occurring) and substituting “examinee”.
“(a) a report by the trustee about:
(i) the terms of the composition or scheme of arrangement; and
(ii) such (if any) of the bankrupt’s conduct and examinable affairs as the trustee has investigated; and”.
“(a) a debtor has failed, without sufficient cause, to attend a meeting of creditors called under an authority signed by him or her under section 188;
(aa) a debtor has contravened subsection 189 (2);”; and
(b) by inserting in subsection (1) “the Inspector-General, a person authorised in writing by the Inspector-General,” after “application of”.
(a) by inserting in subsection (1) “the Inspector-General, a person authorised in writing by the Inspector-General,” before “the Registrar”; and
(b) by inserting in subsection (4) “the Inspector-General, a person authorised in writing by the Inspector-General,” after “application of”.
(a) a deed of assignment or deed of arrangement whenever executed; or
(b) a composition whenever accepted.
(a) by omitting from subsection (1) “The provisions of sections” and substituting “Sections”;
(b) by omitting from subsection (1) “subject to such modifications and adaptations (if any) as are prescribed by the rules” and substituting “with the prescribed modifications (if any)”; and
(c) by omitting subsection (2).
(a) by omitting subsection (1) and substituting the following subsection:
“(1) Section 81 applies in relation to a debtor who has executed a deed of assignment that has become binding on his or her creditors and so applies as if:
(a) the debtor were a bankrupt; and
(b) the trustee of the deed were the trustee in the debtor’s bankruptcy.”;
(b) by omitting from subsection (2) all the words before “in relation to” and substituting “Subsection 58 (4) and sections 60, 61, 62, 70, 71, 72, 82 to 118 (inclusive), 120 to 125 (inclusive), 127 to 130 (inclusive) and 133 to 148 (inclusive) apply, with the prescribed modifications (if any),”;
(c) by omitting from subsection (3) “of the provisions of this Act specified in subsection (2) to and in relation to a deed of assignment—” and substituting “, by virtue of subsections (1) and (2), of the provisions referred to in those subsections:”;
(d) by omitting from paragraph (3) (a) “and”;
(e) by adding at the end of subsection (3) the following word and paragraph:
“; and (c) a reference to the end of the bankruptcy shall be read as a reference to the end of the deed of assignment.”;
(f) by omitting from subsection (4) all the words before “in relation to” and substituting “Subsections 157 (6) and (7) and sections 162 to 184 (inclusive) apply, with the prescribed modifications (if any),”;
(g) by omitting from subsection (5) “modifications and adaptations made by the rules” and “to or in relation to” and substituting “prescribed modifications” and “in relation to”, respectively; and
(h) by omitting subsection (6).
(a) by omitting subsection (1) and substituting the following subsection:
“(1) Section 81 applies in relation to a debtor who has executed a deed of arrangement that has become binding on his or her creditors and so applies as if:
(a) the debtor were a bankrupt; and
(b) the trustee of the deed were the trustee in the debtor’s bankruptcy.”;
(b) by omitting from subsection (2) all the words before “in relation to” and substituting “Subsection 58 (4) and sections 61, 62, 70, 71, 72, 82 to 114 (inclusive), 133 to 139 (inclusive) and 140 to 148 (inclusive) apply, with the prescribed modifications (if any),”;
(c) by omitting subsection (3) and substituting the following subsection:
“(3) In the application, by virtue of subsections (1) and (2), of the provisions referred to in those subsections:
(a) a reference to a provable debt shall be deemed to be a reference to a debt that is, for the purposes of this Part, a provable debt in relation to the deed of arrangement; and
(b) a reference to the end of the bankruptcy shall be deemed to be a reference to the end of the deed of arrangement.”;
(d) by omitting from subsection (4) all the words before “in relation to” and substituting “Subsections 157 (6) and (7) and sections 162 to 184 (inclusive) apply, with the prescribed modifications (if any),”;
(e) by omitting from subsection (5) “modifications and adaptations made by the rules” and “to or in relation to” and substituting “prescribed modifications” and “in relation to”, respectively; and
(f) by omitting subsection (6).
(a) by omitting from subsection (1) all the words before “in relation to” and substituting “Sections 82 to 107 (inclusive) and 140 to 148 (inclusive) apply, with the prescribed modifications (if any),”;
(b) by omitting from subsection (2) “to and”;
(c) by omitting from subsection (3) all the words before “in relation to” and substituting “Subsections 157 (6) and (7) and sections 162 to 184 (inclusive) apply, with the prescribed modifications (if any),”;
(d) by omitting from subsection (4) “modifications and adaptations made by the rules” and “to or in relation to” and substituting “prescribed modifications” and “in relation to”, respectively; and
(e) by omitting subsection (5).
(a) by omitting from subsection (1) “the provisions of;
(b) by omitting from subsection (1) “subject to such modifications and adaptations (if any) as are prescribed by the rules, to and” and substituting “with the prescribed modifications (if any),”;
(c) by omitting from subsection (3) “to and”;
(d) by omitting from subsection (4) “modifications and adaptations made by the rules” and “to or in relation to” and substituting “prescribed modifications” and “in relation to”, respectively; and
(e) by omitting subsection (5).
(a) by inserting in subparagraph (1) (c) (i) “or remuneration” after “expenses”; and
(b) by inserting in sub-subparagraph (1) (c) (iii) (a) “, or his remuneration in the earlier bankruptcy that has,” after “have”.
“263c. A person shall not, in connection with giving to the chairman of a meeting of creditors held under an authority under section 188 particulars of a debt, knowingly make a statement that is false or misleading in a material particular.
Penalty: $1,000 or imprisonment for 6 months, or both.”.
(a) by omitting from paragraph (1) (a) “his property” and substituting “of the property of the bankrupt”;
(b) by omitting paragraphs (1) (c), (d) and (e) and substituting the following paragraphs:
“(c) shall not refuse or fail to comply with a direction by the trustee to deliver to the trustee property in the possession of the bankrupt, being all or part of the property of the bankrupt;
(ca) shall, to the best of his or her knowledge and belief, fully and truly disclose to the trustee such information about any of the bankrupt’s conduct and examinable affairs as the trustee requires;
(d) shall not refuse or fail to tell the trustee where the books (including books of an associated entity of the bankrupt) relating to the bankrupt’s examinable affairs may be found;
(e) shall not refuse or fail to comply with a direction by the trustee to deliver to the trustee books (including books of an associated entity of the bankrupt) that are in the possession of the bankrupt and relate to any of the bankrupt’s examinable affairs;”;
(c) by omitting from paragraph (1) (f) and subsection (3) “his trade dealings, property or affairs” and substituting “any of the bankrupt’s examinable affairs”;
(d) by omitting from paragraph (4) (c) all the words after “particular” and substituting “from, a book (including a book of an associated entity of the person) affecting or relating to any of the person’s examinable affairs”; and
(e) by omitting paragraph (4) (f) and substituting the following paragraph:
“(f) prevents the production of a book (including a book of an associated entity of the person) affecting or relating to any of the person’s examinable affairs;”.
“265a. (1) A person shall not, without reasonable excuse, refuse or fail to comply with a requirement under section 77a, 77b or 130.
“(2) A person shall not, in purported compliance with a requirement under section 77a, 77b or 130, give information, or make a statement, that is, to the person’s knowledge, false or misleading in a material particular.
“(3) A person shall not, without reasonable excuse:
(a) obstruct or hinder a person in the exercise of a power under section 77a or 77b; or
(b) obstruct or hinder a person who is executing a warrant issued under section 130.
“(4) The occupier, or person in charge, of premises that a person enters under a warrant issued under section 130 shall provide to the last-mentioned person all reasonable facilities and assistance for the effective exercise of his or her powers under the warrant.
Penalty: $1,000 or imprisonment for 6 months, or both.”.
(a) by omitting from paragraph (2) (b) “custody or under the control” and substituting “possession”;
(b) by omitting paragraph (2) (c) and substituting the following paragraphs:
“(ba) shall, to the best of his or her knowledge and belief, fully and truly disclose to the trustee of the deed such information about any of the debtor’s conduct and examinable affairs as the trustee requires;
(c) shall not refuse or fail to comply with a direction by the trustee of the deed:
(i) to tell the trustee where books (including books of an associated entity of the debtor) relating to any of the debtor’s examinable affairs may be found; or
(ii) to deliver to the trustee such books that are in the possession of the debtor;”; and
(c) by omitting from paragraph (2) (d) and subsection (3) “his trade dealings, property or affairs” and substituting “any of the debtor’s examinable affairs”.
“268a. Where, at the time when a declaration by a person is submitted under subsection 215a (1) to a meeting of creditors, the person knows:
(a) that the declaration is false or misleading in a material particular; or
(b) that a material matter has been omitted from the declaration;
the person is guilty of an offence punishable, on conviction, by a fine of an amount not exceeding $1,000, imprisonment for a period not exceeding 6 months, or both.”.
(a) by omitting from subsection (1) all the words after “, under this Act” and substituting “and, so far as it is capable of so applying, this Act applies, subject to this Part and with the prescribed modifications (if any), in relation to such a bankrupt as if he or she had become a bankrupt under this Act.”; and
(b) by omitting subsection (3).
(a) by omitting subparagraphs (a) (i) and (ii) and (b) (i) and (ii) and substituting the following subparagraphs:
“(i) the estate of the bankrupt or the deceased person; or
(ii) any of the examinable affairs of the bankrupt or the deceased person;”; and
(b) by omitting from paragraph (b) “as the case may be,”.
(a) apply as mentioned in subsection 106 (1); and
(b) apply in relation to a deceased person whose estate is being administered under Part XI of the
Bankruptcy Act 1966 by virtue of an order made after the commencement of this section, whether the person died before or after that commencement.
(a) by omitting from subsection (1) “by section 50, 69 or 81” and substituting “or her by this Act”; and
(b) by omitting from subsections (2) and (3) “section 50, 69 or 81” (wherever occurring) and substituting “this Act’’.
(2) The amendment or amendments made by subsection 62 (1), 63 (1), 65 (1), 68 (1), 69 (1), 70 (1), 71 (1), 72 (1), 77 (1), 78 (1), 79 (3) or (4), 82 (1) or 99 (1), or the sections inserted in the Principal Act by subsection 64 (1) or 76 (1), of this Act applies or apply in relation to:
(a) an authority signed by a person under section 188 of the
Bankruptcy Act 1966 after the commencement of that subsection;(b) a meeting called under such an authority; or
(c) a deed of assignment or deed of arrangement executed under, or a composition accepted by, a resolution passed at a meeting called under such an authority;
as the case requires, whether the registered trustee or solicitor who is named in the authority consented under subsection (2) of that section before or after that commencement.
1. No. 33, 1966, as amended. For previous amendments, see No. 121, 1968; No. 40, 1969; No. 122, 1970; No. 216, 1973 (as amended by No. 20, 1974); No. 56, 1975; Nos. 91 and 161, 1976; No. 111, 1977; No. 155, 1979; Nos. 12 and 70, 1980; Nos. 74 and 176, 1981; No. 18, 1983; Nos. 10 and 63, 1984; Nos. 21 and 193, 1985; Nos. 154 and 168, 1986; and No. 73, 1987.
[
Senate on 15 September 1987
House of Representatives on 7 December 1987 ]
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