Bankruptcy Act 1966

Pt IX - Debt agreements inserted by No 44 of 1996, Sch 1, Pt 1(320).

Pt IX - Small Bankruptcies repealed by No 12 of 1980, s 99.

Div 7 heading amended by No 44 of 2007, s 3 and Sch 1 item 18, by substituting " General provisions relating to debt agreements " for " Miscellaneous " , effective 11 April 2007.

S 185Y amended by No 118 of 2018, s 3 and Sch 1 item 3C, by omitting " (1) " before " If the administrator " , effective 27 June 2019. For application and transitional provisions, see note under s 185C(2) .

S 185Y(2) repealed by No 118 of 2018, s 3 and Sch 1 item 3D, effective 27 June 2019. For application and transitional provisions, see note under s 185C(2) . S 185Y(2) formerly read:

185Y(2)
Subsection (1) does not apply to a person if the person is both the debtor under, and the administrator of, the debt agreement.

S 185Y substituted by No 44 of 2007, s 3 and Sch 2 item 62, applicable in relation to:

(a) a debt agreement proposal given to the Official Receiver on or after 1 July 2007; and

(b) a debt agreement made as the result of the acceptance of a debt agreement proposal given to the Official Receiver on or after 1 July 2007.

S 185Y formerly read:

185Y DELEGATION OF POWERS AND FUNCTIONS RELATING TO PROCESSING OF PROPOSALS  
185Y(1)
The Official Receiver may delegate to a registered trustee all or any of the Official Receiver ' s processing powers and functions in relation to a particular:

(a) debt agreement proposal that has been accepted for processing; or

(b) proposal to vary a debt agreement; or

(c) proposal to terminate a debt agreement.

185Y(2)
A delegation can only be made with the written consent of the debtor and the registered trustee.

185Y(3)
A delegation must be in writing.

185Y(4)
A delegation is subject to any conditions:

(a) specified in the instrument of delegation; or

(b) specified by the Official Receiver by notice in writing given to the registered trustee.

185Y(5)
The Official Receiver ' s processing powers and functions in relation to a proposal are:

(a) if it is a debt agreement proposal - the powers and functions of the Official Receiver in relation to the proposal under subsections 185E(5) and (6) and section 185A (including the provisions applied by subsection 185A(2)); or

(b) if it is a proposal to vary a debt agreement - the powers and functions of the Official Receiver in relation to the proposal under subsection 185M(2) and section 185A (including the provisions applied by subsection 185A(2)); or

(c) if it is a proposal to terminate a debt agreement - the powers and functions of the Official Receiver in relation to the proposal under subsection 185P(2) and section 185A (including the provisions applied by subsection 185A(2) ).

S 185Y amended by No 131 of 2002, s 3 and Sch 1 items 165 to 167 and 230, by substituting " Official Receiver " for " Official Trustee " (wherever occurring), substituting Official Receiver ' s " for " Official Trustee ' s " (wherever occurring) and repealing the note at the end, effective 5 May 2003. The note formerly read:

Note:

An Official Receiver may exercise powers of the Official Trustee under this section (see subsection 18(8)).

For transitional provision of No 131 of 2002, see note under s 185(2).

S 185Y inserted by No 44 of 1996, Sch 1, Pt 1(320).