Bankruptcy Amendment (Debt Agreement Reform) Act 2018 (118 of 2018)

Schedule 1 Debt agreement proposals

Part 4 Payment to income ratio

Bankruptcy Act 1966

20 At the end of subsection 185C(4)

Add:

Formula when a debtor cannot give a debt agreement proposal

; or (e) if subsection (2AB) does not apply to the debtor - the amount worked out using the following formula (expressed as a percentage) exceeds the percentage determined in an instrument under subsection (4B) (unless subsection (4C) applies to the debtor):

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