Bankruptcy Act 1966

PART IX - DEBT AGREEMENTS  

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History

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Pt IX - Small Bankruptcies repealed by No 12 of 1980, s 99.

Division 6 - Voiding a debt agreement  

SECTION 185V  

185V   VALIDITY OF THINGS DONE UNDER A DEBT AGREEMENT THAT WAS DECLARED VOID  
If a debt agreement is declared void, anything that was done in good faith under the agreement by a person before the person had notice of the declaration:

(a) is valid; and

(b) cannot be voided by a trustee under section 120 , 121 or 122 (whether applying of its own force or under subsection 231(2) ).

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History

S 185V amended by No 44 of 2007, s 3 and Sch 2 item 59, by repealing the note, 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.

The note formerly read:

Note:

This section does not preserve a release from debts under a debt agreement that is declared void: see paragraph 185J(2) (b).

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

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