PART IX
-
DEBT AGREEMENTS
History
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Small Bankruptcies repealed by No 12 of 1980, s 99.
Division 7
-
General provisions relating to debt agreements
History
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.
SECTION 185ZC
OFFICIAL RECEIVER MAY APPOINT A NEW ADMINISTRATOR
185ZC(1)
[Appointment]
If the parties to a debt agreement have not already varied the agreement to appoint a new administrator, the Official Receiver may appoint another person to be the administrator of the agreement in place of the Official Trustee.
History
S 185ZC(1) amended by No 44 of 2007, s 3 and Sch 2 items 65 and 66, by omitting
"
who is appointed as the replacement administrator
"
after
"
, the Official Receiver
"
and substituting
"
in place of the Official Trustee
"
for
"
in place of the Official Receiver
"
, 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.
185ZC(2)
[In writing]
An appointment must be in writing.
185ZC(3)
[Notification of parties]
The Official Receiver must give written notice of the appointment to the parties to the debt agreement.
185ZC(4)
[No revocation]
The Official Receiver cannot revoke an appointment under subsection (1).
185ZC(5)
[Variation of debt agreement]
This section does not prevent the appointment of another person as administrator by variation of the debt agreement.
History
S 185ZC inserted by No 131 of 2002, s 3 and Sch 1 item 168, effective 5 May 2003.