Bankruptcy Act 1966

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (BANKRUPTCY)  

Note: See section 4A .

PART 3 - GENERAL RULES RELATING TO ESTATE ADMINISTRATIONS  

Division 65 - Funds handling  

SECTION 65-5   TRUSTEE MUST PAY ALL MONEY INTO THE ADMINISTRATION ACCOUNT  

Trustee must pay money into the administration account

65-5(1)    
The trustee of a regulated debtor ' s estate must pay all money received by the trustee on behalf of, or in relation to, the estate into an administration account for the estate within 5 business days after receipt.

Exception

65-5(2)    
If the Court gives a direction that is inconsistent with subsection (1) , that subsection does not apply to the extent of the inconsistency.

Offence

65-5(3)    
A person commits an offence of strict liability if:

(a)    the person is subject to a requirement under subsection (1) ; and

(b)    the person fails to comply with the requirement.

Penalty: 50 penalty units.

Note:

A defendant bears an evidential burden in relation to the matter in subsection (2) (see subsection 13.3(3) of the Criminal Code ).