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 70 - Information  

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History

Div 70 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.

Subdivision C - Record-keeping  

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History

Subdiv C 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 70-11   TRUSTEE ' S BOOKS WHEN TRADING  

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Trustee must keep trading books etc.

70-11(1)    
If the trustee of a regulated debtor ' s estate carries on a business previously carried on by the regulated debtor, the trustee must:

(a)    keep such books as are usually kept in relation to the carrying on of a business of that kind; and

(b)    permit a creditor, or another person acting on the creditor ' s behalf, to inspect the books at all reasonable times.

Offence

70-11(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: 5 penalty units.

Note:

See also section 277B (about infringement notices).

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History

S 70-11 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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