Bankruptcy Act 1966
Note: See section 4A .
PART 3 - GENERAL RULES RELATING TO ESTATE ADMINISTRATIONS
View history note
Hide history noteThe trustee of a regulated debtor ' s estate must convene a meeting of the creditors if:
(a) where there is a committee of inspection - the committee of inspection directs the trustee to do so; or
(b) the creditors direct the trustee to do so by resolution; or
(c) at least 25% in value of the creditors direct the trustee to do so in writing; or
(d) both of the following are satisfied:
(i) less than 25%, but more than 10%, in value of the creditors direct the trustee to do so in writing;
(ii) security for the cost of holding the meeting is given to the trustee before the meeting is convened.
75-15(2)
However, the trustee of a regulated debtor ' s estate need not comply with the direction if the direction is not reasonable.
75-15(3)
The Insolvency Practice Rules may prescribe circumstances in which a direction is, or is not, reasonable.
75-15(4)
For the purposes of paragraphs (1)(c) and (d), the value of the creditors is to be worked out by reference to the value of the creditors ' claims against the regulated debtor ' s estate that are known at the time the direction is given.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
