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Bankruptcy Act 1966

PART X - PERSONAL INSOLVENCY AGREEMENTS

History

Pt X heading substituted by No 80 of 2004, s 3 and Sch 1 item 44, effective 1 December 2004. No 80 of 2004, s 3 and Sch 1 items 212, 213 and 215 contained the following transitional provisions:

212 Transitional - pre-commencement deeds and compositions
(1)
For the purposes of this item, if a deed of assignment or a deed of arrangement was executed by a debtor and a trustee under Part X of the Bankruptcy Act 1966 before 1 December 2004, the deed is a pre-commencement deed .

(2)
For the purposes of this item, if a composition was accepted before 1 December 2004 by a special resolution of a meeting of creditors under section 204 of the Bankruptcy Act 1966 , the composition is a pre-commencement composition .

(3)
Despite the repeals and amendments made by Parts 1 and 2 of this Schedule:

(a) the Bankruptcy Act 1966 and regulations under that Act; and

(b) the Acts amended by Part 2 of this Schedule;
continue to apply, in relation to:

(c) a pre-commencement deed; and

(d) a pre-commencement composition; and

(e) any matter connected with, or arising out of:

(i) a pre-commencement deed; or

(ii) a pre-commencement composition;

as if those repeals had not happened and those amendments had not been made.

213 Transitional - pre-commencement authorities
(1)
For the purposes of this item, if:

(a) an authority given by a debtor under section 188 of the Bankruptcy Act 1966 became effective before 1 December 2004; and

(b) as at 1 December 2004, none of the following had happened:

(i) the execution by the debtor and the trustee of a deed of assignment under Part X of the Bankruptcy Act 1966 ;

(ii) the execution by the debtor and the trustee of a deed of arrangement under Part X of the Bankruptcy Act 1966 ;

(iii) the acceptance of a composition by a special resolution of a meeting of the debtor ' s creditors under section 204 of the Bankruptcy Act 1966 ;

the authority is a pre-commencement authority .

(2)
Despite the repeals and amendments made by Parts 1 and 2 of this Schedule:

(a) the Bankruptcy Act 1966 and regulations under that Act; and

(b) the Acts amended by Part 2 of this Schedule;
continue to apply, in relation to:

(c) a pre-commencement authority; and

(d) the control of the debtor ' s property following a pre-commencement authority becoming effective; and

(e) a meeting of the debtor ' s creditors called under a pre-commencement authority; and

(f) whichever of the following is applicable:

(i) a deed of assignment executed after 1 December 2004 by the debtor and the trustee under Part X of the Bankruptcy Act 1966 in accordance with a special resolution of such a meeting;

(ii) a deed of arrangement executed after 1 December 2004 by the debtor and the trustee under Part X of the Bankruptcy Act 1966 in accordance with a special resolution of such a meeting;

(iii) a composition accepted after 1 December 2004 by a special resolution of such a meeting; and

(g) any other matter connected with, or arising out of:

(i) a pre-commencement authority; or

(ii) a deed of assignment mentioned in subparagraph (f)(i); or

(iii) a deed of arrangement mentioned in subparagraph (f)(ii); or

(iv) a composition mentioned in subparagraph (f)(iii);

as if those repeals had not happened and those amendments had not been made.

…
215 Transitional - regulations
(1)
The regulations may make provision for matters of a transitional nature arising from the amendments made by Parts 1 and 2 of this Schedule.

(2)
The Governor-General may make regulations for the purposes of subitem (1).

Part X heading formerly read:

PART X - ARRANGEMENTS WITH CREDITORS WITHOUT SEQUESTRATION

Division 3 - General provisions

SECTION 215A NOMINATION OR APPOINTMENT OF TRUSTEE OF PERSONAL INSOLVENCY AGREEMENT

215A(1) [Written consent needed]

View history reference

A resolution that is passed at a meeting of creditors and purports to:

(a) nominate one or more persons under subsection 204(3) to be a trustee or trustees; or

View history reference

(b) appoint a person under subsection 220(1) to a vacant office of trustee of a personal insolvency agreement;

View history reference

is void unless the person or each of the persons gave written consent before the meeting to act as a trustee of the agreement.

View history note

215A(1A) [Copy of consent]

As soon as possible after the resolution is passed, each person (except the Official Trustee) nominated or appointed by the resolution must give to the Official Receiver a copy of the consent that relates to that person.

View history note

215A(2) [Court powers to declare resolution not void]

Where, if this subsection had not been enacted, a resolution purporting to nominate a person or persons, or to appoint a person, would, because of a particular matter, be void by virtue of subsection (1), the Court may, on the application of the person, or of any of the persons, as the case may be, or of any other interested person, by order declare the resolution not to be void merely because of that matter.

215A(3) [Declarations of relationships]

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Before a resolution is passed at a meeting of creditors that nominates one or more persons under subsection 204(3) to be a trustee or trustees:

(a) the person or each of those persons must make a written declaration stating whether the debtor is a related entity of:

(i) the person concerned; or

(ii) a related entity of the person concerned; and

(b) the person or each of those persons must:

(i) give his or her declaration to the controlling trustee; and

(ii) keep a copy of his or her declaration; and

(c) the controlling trustee must table at the meeting a copy of each declaration given to the controlling trustee; and

(d) the controlling trustee must give a copy of each such declaration to each of the creditors at the same time as the controlling trustee gives a copy of the subsection 189A(1) report to each creditor.

View history note

215A(4) [Declaration of appointee ' s relationships]

Before a resolution is passed at a meeting of creditors that appoints a person under subsection 220(1) to a vacant office of trustee of a personal insolvency agreement:

(a) the person must make a written declaration stating whether the debtor is a related entity of: