Bankruptcy Legislation Amendment Act 2004 (80 of 2004)

Schedule 1   Amendments relating to statements of affairs and Part X agreements

Part 1   Amendment of the Bankruptcy Act 1966

Division 2   Amendments relating to Part X agreements

126   At the end of section 215A

Add:

(3) 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.

(4) 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:

(i) the person; or

(ii) a related entity of the person; and

(b) the person must:

(i) give his or her declaration to the person presiding at the meeting; and

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

(c) the person presiding at the meeting must table at the meeting a copy of the declaration.