Bankruptcy Act 1966

PART VI - ADMINISTRATION OF PROPERTY  

Division 2 - Order of payment of debts  

Subdivision A - General  

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History

Subdiv A heading inserted by No 86 of 2002, s 3 and Sch 4 item 13, effective 1 January 2003.

SECTION 110   APPLICATION OF ESTATES OF JOINT DEBTORS  

110(1)    
In the case of joint debtors, whether partners or not, the joint estate shall be applied in the first instance in payment of their joint debts, and the separate estate of each joint debtor shall be applied in the first instance in payment of his or her separate debts.

110(2)    
If there is a surplus in the case of any of the separate estates, it shall be dealt with as part of the joint estate and if there is a surplus in the case of the joint estate, it shall be dealt with as part of the respective separate estates in proportion to the right and interest of each joint debtor in the joint estate.

[ CCH Note: Modification Declaration FRLI No F2021L00261 ( Bankruptcy Regulations 2021 : FRLI No F2021L00261, registered on 19 March 2021 and effective from 1 April 2021.)

Section 110 of the Act is modified by repealing the section.]

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