Bankruptcy and Family Law Legislation Amendment Act 2005 (20 of 2005)

Schedule 4   Amendments relating to financial agreements under the Family Law Act 1975

Bankruptcy Act 1966

2   After subsection 40(7)

Insert:

(7A) For the purposes of paragraph (1)(o):

(a) transfer of property includes a payment of money; and

(b) a person who does something that results in another person becoming the owner of property that did not previously exist is taken to have transferred the property to the other person.