Bankruptcy Act 1966
[ CCH Note: Modification Declaration FRLI No F2021L00261 ( Bankruptcy Regulations 2021 : FRLI No F2021L00261, registered on 19 March 2021 and effective from 1 April 2021.)
Part VIII of the Act is modified by inserting Division 1A before Division 1:
]Division 1A - Interpretation
SECTION 154A INTERPRETATION
154A
In this Part, in its application to Part X , a reference to a registered trustee includes a reference to a controlling trustee and a trustee of a personal insolvency agreement.
A trustee may apply to the Court for an order of release from the trusteeship of an estate.
183(2) [Court ' s powers]Where the Court is satisfied that the trustee:
(a) has realized all the property of the bankrupt or so much of it as can be realized without unduly protracting the trusteeship or has distributed a final dividend;
(b) has ceased to act by reason of the approval of a composition or scheme of arrangement under Division 6 of Part IV ; or
(c) has resigned or has been removed from office;
the Court may make the order sought.
183(3) [Consideration of objections]In hearing the application, the Court must also consider any objection to the order sought that is made by the Inspector-General, the Official Receiver, a creditor or any other interested person.
View history note
Hide history noteAn order of release under this section:
(a) discharges the trustee from all liability in respect of any act done or default made by him or her in the administration of the estate of the bankrupt; and
(b) if the trustee has not already resigned or been removed from office, operates to remove him or her from office. 183(5) [Revocation]
An order of release under this section may be revoked by the Court on proof that it was obtained by fraud or by suppression or concealment of a material fact.
183(6) [Order for release of trustee ' s estate]Where a trustee has died, the person administering the estate of the trustee may apply to the Court for an order releasing the trustee ' s estate from any claims arising out of the trustee ' s administration of an estate of which he or she was trustee and, upon such an application, the Court may make such order as it thinks proper in the circumstances.
This section does not apply in relation to the Official Trustee.
(Omitted by No 12 of 1980, s 96.)
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