Bankruptcy Legislation Amendment (Anti-avoidance) Act 2006 (33 of 2006)

Schedule 1   Amendments

Bankruptcy Act 1966

22   After section 139E

Insert:

139EA Order relating to increase in value of property of natural person

If, on an application under section 139A for an order in relation to a respondent entity that is a natural person, the Court is satisfied that:

(a) during the examinable period, the value of the entity's interest in particular property increased as a direct or indirect result of financial contributions made by the bankrupt during that period; and

(b) the bankrupt used, or derived (whether directly or indirectly) a benefit from, the property at a time or times during the examinable period;

the Court may, by order, direct the entity to pay to the applicant a specified amount not exceeding the amount by which the value of the entity's interest in the property increased as a result of the financial contributions made by the bankrupt.