Bankruptcy Amendment (Debt Agreement Reform) Act 2018 (118 of 2018)

Schedule 1   Debt agreement proposals

Part 4   Payment to income ratio

Bankruptcy Act 1966

21B   After subsection 185LG(1)

Insert:

(1A) Before a person signs a certificate under paragraph 185C(4C)(b) in relation to a debt agreement proposal, the person must:

(a) make reasonable inquiries about the debtor's financial situation; and

(b) take reasonable steps to verify the debtor's financial situation.

For the purposes of this Act, the requirements set out in paragraphs (a) and (b) are taken to be duties of an administrator in relation to a debt agreement.