Bankruptcy Regulations 2021

PART 4 - PROCEEDINGS IN CONNECTION WITH BANKRUPTCY  

Division 2 - Petitions  

SECTION 19   PRESCRIBED INFORMATION TO BE SUPPLIED BY OFFICIAL RECEIVER TO DEBTOR  

19(1)    
For the purposes of subsections 54D(1) , 55(3A) , 56B(5) and 57(3A) of the Act, the following information is prescribed:

(a)    information about alternatives to bankruptcy;

(b)    information about the consequences of bankruptcy;

(c)    information about sources of financial advice and guidance to persons facing or contemplating bankruptcy;

(d)    information about a debtor ' s right to choose whether the bankruptcy is initially administered by a registered trustee or the Official Trustee;

(e)    a statement that it is an act of bankruptcy for a debtor to present to the Official Receiver, under section 54A of the Act, a declaration of intention to present a debtor ' s petition.

19(2)    
The information must be factual and objective.