Bankruptcy Act 1966

PART XIV - OFFENCES  

SECTION 276   TRUSTEE ACTING UNDER A PERSONAL INSOLVENCY AGREEMENT THAT HAS BEEN SET ASIDE  

276(1)   [Trustee liable for fine]  

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A person who acts as trustee under a personal insolvency agreement that has, to his or her knowledge, been set aside or been terminated is liable, on conviction by the Court or a court of summary jurisdiction, to a fine not exceeding $20 for each day on which he or she has so acted, not being a day on which his or her acting as a trustee was confined to taking such steps as were necessary for the protection of the property of the debtor.

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History

S 276(1) amended by No 80 of 2004, s 3 and Sch 1 item 176, by substituting " personal insolvency agreement that has, to his or her knowledge, been set aside " for " deed of assignment or a deed of arrangement under Part X that has, to his or her knowledge, been declared to be void " , effective 1 December 2004. For transitional provisions, see note under Part X heading.

276(2)   [Defence]  

It is a defence to proceedings brought under subsection (1) if the person alleged to have acted as trustee proves that his or her acting as a trustee was confined to taking such steps as were necessary for the protection of the property of the debtor.

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