Bankruptcy Act 1966

Div 3 repealed by No 11 of 2016, s 3 and Sch 1 item 54, applicable in relation to the administration of regulated debtors ' estates on and after 1 September 2017.

S 176 repealed by No 11 of 2016, s 3 and Sch 1 item 54, applicable in relation to the administration of regulated debtors ' estates on and after 1 September 2017. S 176 formerly read:

SECTION 176 COURT MAY ORDER TRUSTEE TO MAKE GOOD LOSS CAUSED BY BREACH OF DUTY  
176(1)
Where, on application by the Inspector-General or by a creditor who has or had a debt provable in the bankruptcy, the Court is satisfied that a person who is or has been a trustee of a bankrupt ' s estate has been guilty (whether before or after the commencement of this section) of breach of duty in relation to the bankrupt ' s estate or affairs, subsection (2) applies.

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History

S 176(1) substituted by No 12 of 1980, s 91; No 119 of 1987, s 57(1).

176(2)
The Court may make any one or more of the following orders:

(a) an order directing the person to make good any loss that the bankrupt ' s estate has sustained because of the person ' s breach of duty;

(b) if the person is a registered trustee - an order directing the Inspector-General to cancel the person ' s registration as a trustee;

(c) any other order that the Court considers just and equitable in the circumstances.

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History

S 176(2) substituted by No 12 of 1980, s 91; No 119 of 1987, s 57(1); amended by No 115 of 1990, s 29; No 44 of 1996, Sch 1, Pt 1(311).