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

32   Subsections 56A(3), (4) and (5)

Repeal the subsections, substitute:

(3) A member of a partnership who has executed a personal insolvency agreement must not join in presenting a petition against the partnership unless:

(a) the agreement has been set aside; or

(b) the agreement has been terminated; or

(c) all the obligations that the agreement created have been discharged; or

(d) the Court gives permission for the member to join in presenting a petition against the partnership.