Bankruptcy Legislation Amendment Act 2010 (106 of 2010)

Schedule 1   Remuneration of trustees of estates of bankrupts

Bankruptcy Act 1966

13   Section 167

Repeal the section, substitute:

166 Payment to third parties

The trustee must, in relation to the payment for services provided by another person in relation to the administration of a bankrupt's estate, give such notices to the bankrupt and creditors of the bankrupt as are required by the regulations.

167 Review of remuneration etc.

Trustee's remuneration

(1) The regulations may make provision for and in relation to:

(a) the Inspector-General reviewing decisions of the trustee of the estate of a bankrupt to withdraw, or to propose to withdraw, funds from the estate for payment of the trustee's remuneration; and

(b) the bankrupt or a creditor of the bankrupt applying for the review.

Payment to third parties

(2) The regulations may make provision for and in relation to:

(a) the Inspector-General reviewing a bill of costs for services provided by a person (the third party ) in relation to the administration of a bankrupt's estate; and

(b) the trustee of the estate applying for the review.

Content of regulations

(3) The regulations may provide for:

(a) the powers available to the Inspector-General in relation to the review; and

(b) the trustee or the third party to provide information or documents to the Inspector-General; and

(c) the decisions that may be made by the Inspector-General in relation to the review; and

(d) the notification of decisions made by the Inspector-General.

Repayment - trustee

(4) The regulations may provide that, if the Inspector-General is satisfied that a withdrawal by the trustee of funds from the estate of the bankrupt for payment of the trustee's remuneration exceeds the amount of remuneration the trustee is entitled to under this Division, the Inspector-General may require the trustee to repay the excess to that estate.

(5) The amount of the excess is recoverable by the Inspector-General, as a debt due to the estate of the bankrupt, by action against the trustee in a court of competent jurisdiction.

Appeal to the Court

(6) The trustee, the bankrupt or a creditor of the bankrupt may appeal to the Court from a decision of the Inspector-General in relation to the review. In addition, if the review is of the kind mentioned in subsection (2), the third party may also appeal to the Court from a decision of the Inspector-General in relation to the review.

Interpretation

(7) Subsections (3) and (4) do not limit subsections (1) and (2).