S 72 repealed by No 11 of 2016, s 3 and Sch 1 item 24, applicable in relation to the administration of regulated debtors
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estates on and after 1 September 2017. S 72 formerly read:
SECTION 72 MEMBER OF COMMITTEE NOT TO PURCHASE PART OF ESTATE
72(1)
A member of the committee of inspection shall not, while acting as such a member, except by leave of the Court, either directly or indirectly, become purchaser of any part of the property of the bankrupt.
72(2)
Where a member of the committee of inspection is a person authorized by a creditor to act for the creditor in relation to the bankruptcy, the creditor shall not, while that person is acting as a member of the committee, except by leave of the Court, either directly or indirectly, become purchaser of any part of the property of the bankrupt.
72(3)
A purchase made in contravention of this section may be set aside by the Court on the application of a creditor.
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