Bankruptcy Legislation Amendment Act 2002 (131 of 2002)

Schedule 1   Amendments

Part 1   Amendments

Bankruptcy Act 1966

42   After subsection 57(3)

Insert:

(3AA) The Official Receiver may reject a debtor's petition (the current petition ) if the following conditions are satisfied for at least one of the petitioning debtors:

(a) it appears from the information in the statement of affairs (and any additional information supplied by the debtor) that, if the debtor did not become a bankrupt, the debtor would be likely (either immediately or within a reasonable time) to be able to pay all the debts specified in the debtor's statement of affairs;

(b) at least one of the following applies:

(i) it appears from the information in the statement of affairs (and any additional information supplied by the debtor) that the debtor is unwilling to pay one or more debts to a particular creditor or creditors, or is unwilling to pay creditors in general;

(ii) before the current petition was presented, the debtor previously became a bankrupt on a debtor's petition at least 3 times, or at least once in the period of 5 years before presentation of the current petition.

(3AB) The Official Receiver is not required to consider in each case whether there is a discretion to reject under subsection (3AA).

(3AC) An application may be made to the Administrative Appeals Tribunal for the review of a decision by the Official Receiver to reject a petition under subsection (3AA).