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 65-50  

65-50   RULES IN RELATION TO CONSEQUENCES FOR FAILURE TO COMPLY WITH THIS DIVISION  

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The Insolvency Practice Rules may provide for and in relation to:

(a)    the payment by the trustee of a regulated debtor ' s estate of interest at such rate, on such amount and in respect of such period as is prescribed; and

(b)    disallowance of all or of such part as is prescribed of the remuneration of the trustee of a regulated debtor ' s estate; and

(c)    the removal from office of the trustee of a regulated debtor ' s estate by the Court; and

(d)    the payment by the trustee of a regulated debtor ' s estate of any expenses occasioned by reason of his or her default;

in cases where the trustee of a regulated debtor ' s estate contravenes or fails to comply with this Division (including Insolvency Practice Rules made under this Division).

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History

S 65-50 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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