Bankruptcy Regulations 2021

SCHEDULE 3 - MODIFICATIONS IN RELATION TO PART X OF THE ACT  

PART 5 - MODIFICATIONS UNDER SUBSECTION 231(3) OF THE ACT - PERSONAL INSOLVENCY AGREEMENTS  

Note:

41   Subsection 139(3)  
Repeal the subsection, substitute:

(3)
Where the trustee of a personal insolvency agreement carries on a business previously carried on by the debtor, the trustee is not personally liable for any payment in respect of long service leave or extended leave:

(a) for which the debtor was liable; or

(b) to which a person employed by the trustee in the person ' s capacity as trustee of the personal insolvency agreement, or the legal personal representative of such a person, becomes entitled after the date of execution of the personal insolvency agreement.