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 85 - Directions by creditors  

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Div 85 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 85-5   TRUSTEE TO HAVE REGARD TO DIRECTIONS GIVEN BY CREDITORS  

85-5(1)    
The creditors may, by resolution, give directions to the trustee of a regulated debtor ' s estate in relation to the administration of the estate.

85-5(2)    
The trustee must have regard to any directions mentioned in subsection (1) , but the trustee is not required to comply with such directions.

85-5(3)    
If the trustee does not comply with a direction, the trustee must make a written record of that fact, along with the trustee ' s reasons for not complying with the direction.

85-5(4)    
If there is a conflict between directions given by the creditors under subsection (1) and by the committee of inspection under section 80-35 , directions given by the creditors override any directions given by the committee.

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History

S 85-5 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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