Bankruptcy Act 1966

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (BANKRUPTCY)  

Note: See section 4A .

PART 3 - GENERAL RULES RELATING TO ESTATE ADMINISTRATIONS  

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History

Pt 3 inserted by No 11 of 2016, s 3 and Sch 1 item 2, applicable in relation to the administration of regulated debtors ' estates on and after 1 September 2017.

Division 65 - Funds handling  

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History

Div 65 inserted by No 11 of 2016, s 3 and Sch 1 item 2, applicable in relation to the administration of regulated debtors ' estates on and after 1 September 2017.

SECTION 65-25   PAYING MONEY OUT OF ADMINISTRATION ACCOUNT  

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Money only to be paid out of administration account in accordance with this Act etc.

65-25(1)    
The trustee of a regulated debtor ' s estate must not pay any money out of the administration account for the estate otherwise than:

(a)    for purposes related to the administration of the estate; or

(b)    in accordance with this Act; or

(c)    in accordance with a direction of the Court.

Offence

65-25(2)    
A person commits an offence of strict liability if:

(a)    the person is subject to a requirement under subsection (1) ; and

(b)    the person fails to comply with the requirement.

Penalty: 50 penalty units.

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History

S 65-25 inserted by No 11 of 2016, s 3 and Sch 1 item 2, applicable in relation to the administration of regulated debtors ' estates on and after 1 September 2017.

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