Pt IX - Debt agreements inserted by No 44 of 1996, Sch 1, Pt 1(320).

Pt IX - Small Bankruptcies repealed by No 12 of 1980, s 99.

S 185E(1) repealed by No 118 of 2018, s 3 and Sch 1 item 2, effective 27 June 2019. For application and transitional provision, see note under s 185C(2) . S 185E(1) formerly read:

185E(1)
If the person specified under paragraph 185C(2)(c) is the debtor, the Official Receiver must, before accepting the debt agreement proposal for processing, give the debtor the information prescribed by the regulations.

S 185E(1) substituted by No 44 of 2007, s 3 and Sch 2 item 25, applicable in relation to:

(a) a debt agreement proposal given to the Official Receiver on or after 1 July 2007; and

(b) a debt agreement made as the result of the acceptance of a debt agreement proposal given to the Official Receiver on or after 1 July 2007.

S 185E(1) formerly read:

185E(1) [Information to debtor]  

Before accepting a debt agreement proposal for processing, the Official Receiver must give the debtor the information prescribed by the regulations.

S 185E(2) amended by No 118 of 2018, s 3 and Sch 2 item 3, by inserting " (2AA), (2AC), " in para (c), applicable in relation to debt agreement proposals given to the Official Receiver on or after 27 June 2019.

S 185E(2) amended by No 118 of 2018, s 3 and Sch 1 items 3 and 3A, by inserting " (2D), (2DA), " and repealing para (b). For application and transitional provisions, see note under s 185C(2) . Para (b) formerly read:

(b) if the person specified under paragraph 185C(2)(c) is not the debtor - the Official Receiver is satisfied that subsection 185C(2D) has been complied with; and

S 185E(2) substituted by No 44 of 2007, s 3 and Sch 2 item 26, applicable in relation to:

(a) a debt agreement proposal given to the Official Receiver on or after 1 July 2007; and

(b) a debt agreement made as the result of the acceptance of a debt agreement proposal given to the Official Receiver on or after 1 July 2007.

S 185E(2) formerly read:

185E(2) [Acceptance conditions]  

If a debtor gives the Official Receiver a debt agreement proposal, the Official Receiver may accept the proposal for processing if the Official Receiver thinks that subsections 185C(2) and (4) have been complied with and the statement of affairs accompanying the proposal is in order.

S 185E(2AA) inserted by No 4 of 2007, s 3 and Sch 2 item 27, applicable in relation to:

(a) a debt agreement proposal given to the Official Receiver on or after 1 July 2007; and

(b) a debt agreement made as the result of the acceptance of a debt agreement proposal given to the Official Receiver on or after 1 July 2007.

S 185E(2AB) inserted by No 118 of 2018, s 3 and Sch 1 item 23, applicable in relation to debt agreement proposals given to the Official Receiver on or after 27 June 2019.

S 185E(2A) repealed by No 118 of 2018, s 3 and Sch 1 item 3B, effective 27 June 2019. For application and transitional provisions, see note under s 185C(2) . S 185E(2A) formerly read:

185E(2A)
If the person specified under paragraph 185C(2)(c) is not:

(a) a registered debt agreement administrator; or

(b) a registered trustee;

the Official Receiver must not accept the debt agreement proposal unless the Official Receiver is satisfied that the person passes the basic eligibility test.

S 185E(2A) substituted by No 44 of 2007, s 3 and Sch 2 item 28, applicable in relation to:

(a) a debt agreement proposal given to the Official Receiver on or after 1 July 2007; and

(b) a debt agreement made as the result of the acceptance of a debt agreement proposal given to the Official Receiver on or after 1 July 2007.

S 185E(2A) formerly read:

185E(2A) [Refusal to accept]  

The Official Receiver must refuse to accept a debt agreement proposal for processing if the person nominated as administrator is ineligible, in accordance with the regulations, to act as an administrator.

S 185E(2A) inserted by No 131 of 2002 (as amended by No 80 of 2004, s 3 and Sch 7), s 3 and Sch 1 items 154 and 232, applicable to debt agreement proposals that are given after 5 May 2003 under subsection 185C(1) of the Bankruptcy Act.

S 185E(2B) repealed by No 118 of 2018, s 3 and Sch 1 item 3B, effective 27 June 2019. For application and transitional provisions, see note under s 185C(2) . S 185E(2B) formerly read:

185E(2B)
If the person specified under paragraph 185C(2)(c) is not the debtor, the Official Receiver must not accept the debt agreement proposal for processing unless:

(a) the person is a registered debt agreement administrator; or

(b) the person is a registered trustee; or

(c) both:

(i) the person is the administrator of not more than 5 debt agreements; and

(ii) no declaration is in force in relation to the person under section 186M.

S 185E(2B) inserted by No 44 of 2007, s 3 and Sch 2 item 29, applicable in relation to:

(a) a debt agreement proposal given to the Official Receiver on or after 1 July 2007; and

(b) a debt agreement made as the result of the acceptance of a debt agreement proposal given to the Official Receiver on or after 1 July 2007.

S 185E(2C) repealed by No 118 of 2018, s 3 and Sch 1 item 3B, effective 27 June 2019. For application and transitional provisions, see note under s 185C(2) . S 185E(2C) formerly read:

185E(2C)
If:

(a) the person specified under paragraph 185C(2)(c) in relation to a debt agreement proposal (the first debt agreement proposal ) is not:

(i) a registered debt agreement administrator; or

(ii) a registered trustee; and

(b) the person is specified under that paragraph in relation to one or more other debt agreement proposals;

the Official Receiver must not accept the first debt agreement proposal for processing if the person would become the administrator of more than 5 debt agreements if it were assumed that:

(c) the first debt agreement proposal is accepted; and

(d) those other debt agreement proposals are accepted.

S 185E(2C) inserted by No 44 of 2007, s 3 and Sch 2 item 29, applicable in relation to:

(a) a debt agreement proposal given to the Official Receiver on or after 1 July 2007; and

(b) a debt agreement made as the result of the acceptance of a debt agreement proposal given to the Official Receiver on or after 1 July 2007.

S 185E(4) amended by No 39 of 2024, s 3 and Sch 2 item 21, by substituting " Administrative Review Tribunal " for " Administrative Appeals Tribunal " , effective 14 October 2024.

S 185E(4) amended by No 131 of 2002 (as amended by No 80 of 2004, s 3 and Sch 7), s 3 and Sch 1 items 155 and 230, by substituting " Official Receiver ' s " for " Official Trustee ' s " , effective 5 May 2003. For additional provision on the commencement of No 131 of 2002, see note under s 33A.

For transitional provision of No 131 of 2002 (as amended by No 80 of 2004, s 3 and Sch 7), see note under s 185(2).

S 185E(5) amended by No 44 of 2007, s 3 and Sch 2 item 30, by inserting " in accordance with section 185EA " at the end, applicable in relation to:

(a) a debt agreement proposal given to the Official Receiver on or after 1 July 2007; and

(b) a debt agreement made as the result of the acceptance of a debt agreement proposal given to the Official Receiver on or after 1 July 2007.

S 185E(6) repealed by No 44 of 2007, s 3 and Sch 2 item 31, applicable in relation to:

(a) a debt agreement proposal given to the Official Receiver on or after 1 July 2007; and

(b) a debt agreement made as the result of the acceptance of a debt agreement proposal given to the Official Receiver on or after 1 July 2007.

S 185E(6) formerly read:

185E(6) [Creditor involvement]  

If the Official Receiver processes the proposal by writing to creditors under section 185A , the Official Receiver must:

(a) ask each creditor to include with the creditor ' s statement the following information for each debt owed to the creditor by the debtor:

(i) the amount of the debt;

(ii) whether the creditor holds a security for the debt;

(iii) if the creditor holds a security - the creditor ' s estimate of the value of the security and the value of the debt after deducting the value of the security;

(iv) the transaction and circumstances that gave rise to the debt;

(v) whether the debt was assigned to the creditor;

(vi) if the debt was assigned to the creditor - the value of the consideration that the creditor gave for the assignment; and

(b) give each creditor a summary of the debtor ' s statement of affairs.

S 185E amended by No 131 of 2002 (as amended by No 80 of 2004, s 3 and Sch 7), s 3 and Sch 1 items 153 and 230, by substituting " Official Receiver " for " Official Trustee " (wherever occurring), effective 5 May 2003. For additional provision on the commencement of No 131 of 2002, see note under s 33A.

For transitional provision of No 131 of 2002 (as amended by No 80 of 2004, s 3 and Sch 7), see note under s 185(2).

S 185E inserted by No 44 of 1996, Sch 1, Pt 1(320).