Bankruptcy Legislation Amendment Act 2004 (80 of 2004)

Schedule 1   Amendments relating to statements of affairs and Part X agreements

Part 1   Amendment of the Bankruptcy Act 1966

Division 2   Amendments relating to Part X agreements

67   Subsections 204(2), (3) and (4)

Repeal the subsections, substitute:

(2) A special resolution requiring a debtor to execute a personal insolvency agreement must specify the provisions to be included in the agreement.

(3) If a special resolution requiring the debtor to execute a personal insolvency agreement has been passed, the creditors must, by resolution, nominate a trustee or trustees to be trustee or trustees of the agreement.