Bankruptcy Legislation Amendment Act 2010 (106 of 2010)

Schedule 1   Remuneration of trustees of estates of bankrupts

Bankruptcy Act 1966

6   After subsection 64U(7)

Insert:

(7A) If:

(a) the meeting is the first meeting of the bankrupt's creditors and the trustee is a registered trustee; and

(b) the following apply:

(i) before the meeting the trustee had given a notice under section 64ZBA that contained a proposal relating to how the trustee was to be remunerated;

(ii) the notice satisfied subsections 64ZBA(2) and (2A);

(iii) the proposal was taken to have been passed under subsection 64ZBA(3);

then subsections (1) to (7) of this section do not apply in relation to the meeting.