Bankruptcy Regulations 1996

PART 4 - PROCEEDINGS IN CONNEXION WITH BANKRUPTCY  

Division 2 - Petitions  

REGULATION 4.07   EXPENSES OF TRUSTEE BEFORE SEQUESTRATION  

4.07(1)    
Where:

(a) the Court makes a direction or other order under subsection 50(1) of the Act; and

(b) the amount deposited, in accordance with the direction or other order of the Court, with the Official Trustee or a registered trustee is insufficient to meet the fees and expenses incurred by the Official Trustee or registered trustee:

(i) as a result of the direction or other order; or

(ii) in carrying out an examination of a person as a result of the issue of a summons under subsection 50(2) of the Act;

the Official Trustee or registered trustee may:

(c) request the creditor who made the application under subsection 50(1) of the Act; or

(d) apply to the Court for an order directing that creditor;

to deposit with the Official Trustee or the registered trustee a specified additional sum.

4.07(2)    
Where the Court, under section 50 of the Act, directs the Official Trustee or a registered trustee to take control of the property of a debtor, and subsequently any of the following events occurs:

(a) the debtor enters into a personal insolvency agreement, or the debtor's estate is administered under Part XI of the Act, and the Court authorises the Official Trustee or the registered trustee to transfer the property to some other person;

(b) a sequestration order is made against the debtor;

(c) the creditor's petition against the debtor is dismissed;

(d) a debtor's petition relating to the debtor is accepted by the Official Receiver;

(e) a proposal by the debtor relating to a debt agreement is accepted under section 185B of the Act;

the creditor is entitled to a refund of the amount deposited by him or her in accordance with the direction or other order of the Court to meet the fees and expenses of the Official Trustee or the registered trustee incurred:

(f) as a result of the direction; or

(g) in carrying out an examination of a person as the result of the issue of a summons;

less the amount of any fees or expenses so incurred.