Bankruptcy Regulations 1996

PART 4 - PROCEEDINGS IN CONNEXION WITH BANKRUPTCY  

Division 2 - Petitions  

REGULATION 4.09  

4.09   SUBSECTION 50(5) OF THE ACT - PRESCRIBED MODIFICATIONS OF APPLIED PROVISIONS  

For the purposes of subsection 50(5) of the Act, section 81 of the Act is modified as follows:

(a) by omitting from subsection (2) ' An ' and substituting ' Subject to subsection (2A), an ' ;

(b) by inserting after subsection (2) the following subsection:
' (2A) The Court or a magistrate may direct that an examination, or any part of an examination, under this section shall be held in private. ' ;

(c) by omitting from subsection (9) ' is the trustee ' and substituting ' has been directed to take control of the property of the debtor ' ;

(d) by omitting subsection (10A);

(e) by omitting subsection (14) and substituting the following subsections:
' (14) Subject to subsection (14A), the applicant for an examination under this section is to pay the costs incurred in connection with the examination.
' (14A) The Court or a magistrate may order that all or some of the costs mentioned in subsection (14) are to be paid by the debtor. ' .