Bankruptcy Regulations 1996

PART 4 - PROCEEDINGS IN CONNEXION WITH BANKRUPTCY  

Division 1 - Bankruptcy notices  

REGULATION 4.04   JUDGMENT OR ORDER IN FOREIGN CURRENCY  

4.04(1)    
This regulation applies to a bankruptcy notice if the judgment or order lodged under subregulation 4.01(1) in relation to the notice is expressed in an amount of foreign currency (whether or not the judgment or order is also expressed in an amount of Australian currency).

4.04(2)    
A bankruptcy notice to which this regulation applies must:

(a) contain a statement to the effect that payment of the amount of foreign currency expressed in the judgment or order may be paid in that foreign currency or by means of a specified amount of Australian currency that is stated to be equivalent to the amount of foreign currency; and

(b) set out:

(i) the applicable rate of exchange, being the rate worked out in accordance with subregulation (3); and

(ii) the conversion calculation; and

(iii) a statement that the conversion of the amount of foreign currency into Australian currency has been made in accordance with this regulation.

4.04(3)    

For paragraph (2)(b), the conversion of an amount of foreign currency into an equivalent amount of Australian currency must be done in accordance with the telegraphic rate of exchange prevailing on the second day before the day when the application to which the conversion applies is lodged under subregulation 4.01(1).