Bankruptcy Regulations 1996

Reg 9.04 repealed by SLI No 138 of 2007, reg 3 and Sch 2 item 5, effective 1 July 2007.

SLI No 138 of 2007, reg 4, contained the following transitional provision:

4 Transitional  
Despite the repeal by these Regulations of regulations 9.01 to 9.07 and Schedule 5 of the Bankruptcy Regulations 1996 , those regulations and Schedule continue to have effect in relation to a debt agreement made as a result of the acceptance of a debt agreement proposal given to the Official Receiver before 1 July 2007.

Reg 9.04 formerly read:

9.04 PERSONS INELIGIBLE TO BE DEBT AGREEMENT ADMINISTRATOR  
9.04(1)
A person is ineligible to act as an administrator if the person:

(a) is an undischarged bankrupt or insolvent under administration, or became a party (as debtor) to a debt agreement or a Part X administration within the 3 years before the proposed appointment; or

(b) is a person whose registration ceases, under section 155I of the Act, for a reason mentioned in paragraph 155H(1)(a), (b), (e), (f) or (g) of the Act, or whose registration has ceased for any of those reasons within 10 years before the proposed appointment; or

(c) is a person who is prohibited, under the Corporations Act, from taking part in the management of a corporation; or

(d) is a person who is deregistered under the Corporations Act as a liquidator; or

(e) is a person who is convicted of a criminal offence involving fraud or dishonesty, or was so convicted within 10 years before the proposed appointment; or

(f) is a person who the Inspector-General determines under subregulation 9.06(3) has failed to properly carry out duties or cooperate with an inquiry or investigation, or in relation to whom such a decision was made within 3 years before the proposed appointment.

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History

Reg 9.04(1) amended by SR No 256 of 2004, reg 3 and Sch 1 item 10, by substituting ``paragraph 155H(1)(a), (b), (e), (f) or (g)'' for ``paragraph 155H(1)(a), (b), (e) or (f)'' in para (b), effective 1 December 2004.

9.04(2)
If a person is ineligible to act as an administrator, any company of which the person is a director is also ineligible to act as an administrator.

9.04(3)
Paragraph (1)(a) does not apply to a person nominated as administrator of a debt agreement proposal in respect of which that person is the sole debtor.

Reg 9.04 inserted by SR No 76 of 2003, reg 3 and Sch 1 item 9, effective 5 May 2003.