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.
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