Bankruptcy Act 1966
PART VII
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DISCHARGE AND ANNULMENT
Division 3
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Early discharge
Subdivision D
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(Repealed)
View history note
Hide history noteHistory
Pt VII heading inserted by No 9 of 1992, s 27.
History
Div 3 repealed by No 131 of 2002 (as amended by No 80 of 2004, s 3 and Sch 7), s 3 and Sch 1 items 127 and 206, applicable to bankruptcies for which the date of the bankruptcy is after 5 May 2003. For additional provision on the commencement of No 131 of 2002, see note under s 33A.
Div 3 heading inserted by No 9 of 1992, s 27.
History
Subdiv D repealed by No 131 of 2002 (as amended by No 80 of 2004, s 3 and Sch 7), s 3 and Sch 1 item 127, effective 5 May 2003. For additional provision on the commencement of No 131 of 2002, see note under s 33A. Subdiv D formerly read:
Subdivision D - Disqualifying criteria
HistorySubdiv D heading inserted by No 9 of 1992, s 27.
SECTION 149X SECTION 149X PREVIOUS BANKRUPTCY OR COMPOSITION WITH CREDITORS
149X
A bankrupt is disqualified from early discharge if:
(a) he or she has previously been a bankrupt, or has executed a deed of assignment or deed of arrangement, or his or her creditors have accepted a composition under Part X; or
(b) he or she is or has been a bankrupt or insolvent, or has executed a similar assignment or arrangement, or his or her creditors have accepted a similar composition, under the law of an external Territory or of a foreign country;and the bankruptcy, assignment, arrangement or composition referred to in paragraph (a) or (b) occurred within the period of 10 years immediately preceding the bankruptcy from which the bankrupt is applying for discharge.
SECTION 149Y UNSECURED LIABILITIES EXCEEDING 150% OF INCOMEHistoryS 149X inserted by No 9 of 1992, s 27.
149Y(1)
Subject to subsection (2), a bankrupt is disqualified from early discharge if the bankrupt ' s unsecured liabilities exceeded 150% of the income that the trustee determines to have been derived by the bankrupt during the year immediately before the date of the bankruptcy.
149Y(2)
Subsection (1) does not apply where:
(a) the unsecured liabilities were wholly or principally attributable to a tort committed by the bankrupt; and
(b) the bankrupt was not insured against liability for that tort.
149Y(3)
The trustee may determine any matter referred to in subsection (1) on the basis of the information provided to the trustee by the bankrupt, whether in the bankrupt ' s statement of affairs or otherwise.
149Y(4)
The trustee may also have regard to any other information in the possession of the trustee but is not required to seek any such information.HistoryS 149Y inserted by No 9 of 1992, s 27.
SECTION 149Z FAILURE TO DISCLOSE BENEFICIAL INTEREST IN PROPERTY
149Z(1)
A bankrupt is disqualified from early discharge if the bankrupt has at any time failed, whether intentionally or not, to disclose to the trustee the bankrupt ' s beneficial interest in any property.
149Z(2)
The trustee may determine whether a bankrupt has or had a beneficial interest in property on the basis of evidence that was provided by any person or otherwise came to the knowledge of the trustee, but the trustee is not required to investigate any allegation made by a person that is not supported by evidence or to make enquiries in order to find out whether the bankrupt has such an interest that was not disclosed in the bankrupt ' s statement of affairs.
SECTION 149ZA FAILURE TO DISCLOSE LIABILITYHistoryS 149Z inserted by No 9 of 1992, s 27.
149ZA(1)
A bankrupt is disqualified from early discharge if the bankrupt has at any time failed, whether intentionally or not, to disclose to the trustee any liability of the bankrupt that existed at the date of the bankruptcy.
149ZA(2)
The trustee may determine that the bankrupt has failed to disclose a liability as mentioned in subsection (1) if:
(a) a person had lodged with the trustee a proof of debt that has been accepted by the trustee; and
(b) the bankrupt ' s statement of affairs:
(i) did not disclose that the person was a creditor; or
(ii) did not disclose the debt claimed by the person or disclosed part only of that debt.
SECTION 149ZB FAILURE TO DISCLOSE INCOMEHistoryS 149ZA inserted by No 9 of 1992, s 27.
149ZB(1)
A bankrupt is disqualified from early discharge if the bankrupt has failed to disclose in the bankrupt ' s statement of affairs income that the bankrupt expected to derive in the 12 months following the filing of the statement.
149ZB(2)
The trustee must accept that the bankrupt has disclosed all that income in the statement of affairs unless the trustee is satisfied on the basis of information given to the trustee by any person or obtained by the trustee as a result of his or her own enquiries that income that should have been included in that statement was not so included.
149ZB(3)
The trustee may disregard an allegation that the bankrupt failed to disclose income in the statement of affairs unless the allegation was made in writing and identified the nature and source of the alleged income.
149ZB(4)
The trustee is not required to make any enquiries for the purpose of ascertaining whether the bankrupt failed to disclose income in the statement of affairs.
SECTION 149ZC IF BANKRUPT ENGAGES IN MISLEADING CONDUCTHistoryS 149ZB inserted by No 9 of 1992, s 27.
149ZC(1)
A bankrupt is disqualified from early discharge if, after the date of the bankruptcy, the bankrupt engaged in misleading conduct in relation to a person in respect of an amount that, or amounts the total of which, exceeded $3,000.
149ZC(2)
A bankrupt is not taken to have engaged in misleading conduct in relation to a person for the purposes of subsection (1) unless a person has given to the trustee a written statement setting out matters alleged to constitute misleading conduct, including particulars of the nature and date of the relevant transaction.
149ZC(3)
The trustee is not required to enquire into the correctness of a statement referred to in subsection (2).
149ZC(4)
This section has effect subject to section 304A.
SECTION 149ZD IF BANKRUPT CONTINUES TO MANAGE CORPORATIONHistoryS 149ZC inserted by No 9 of 1992, s 27.
149ZD(1)
A bankrupt is disqualified from discharge if, after the date of the bankruptcy, the bankrupt contravened section 206A of the Corporations Act 2001 (disqualification from managing corporations).HistoryS 149ZD(1) substituted by No 55 of 2001, s 3 and Sch 3 item 87, effective 15 July 2001. S 149ZD(1) formerly read:
149ZD(1)
A bankrupt is disqualified from discharge if, after the date of the bankruptcy, the bankrupt continued to manage a corporation as mentioned in section 91A of the Corporations Law without having been given leave to do so under section 229 of that Law.
149ZD(2)
The bankrupt is not taken to have managed a corporation at a particular time for the purposes of subsection (1) unless a person has given to the trustee a written statement setting out matters alleged to constitute the management of the corporation by the bankrupt at that time, including the name of the corporation and the relevant acts by the bankrupt.
149ZD(3)
If the trustee receives such a statement, the trustee:
(a) must search the relevant records kept by the Australian Securities Commission; and
(b) if those records support the correctness of the statement that the bankrupt managed the corporation at the time set out in the notice, must accept the correctness of the statement;but is not required to make any other enquiries for the purpose of establishing the correctness of the statement.
SECTION 149ZE FAILURE OF BANKRUPT TO GIVE PASSPORT TO TRUSTEEHistoryS 149ZD inserted by No 9 of 1992, s 27.
149ZE
A bankrupt is disqualified from early discharge if, at any time after the date of the bankruptcy:
(a) the bankrupt had a passport (whether an Australian passport or a passport issued by the relevant authority of a foreign country); and
(b) the trustee requested the bankrupt to give the passport to the trustee; and
(c) the bankrupt refused or failed to comply with that request.HistoryS 149ZE inserted by No 9 of 1992, s 27.
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