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

Schedule 6   Other amendments

Bankruptcy Act 1966

1   Section 60-21 of Schedule 2

Repeal the section, substitute:

60-21 Inducements to be appointed as trustee

A person (the first person ) commits an offence if:

(a) the first person gives, or agrees or offers to give, to another person any valuable consideration; and

(b) the first person does so with the intention of:

(i) securing the first person's appointment or nomination as a trustee of a regulated debtor's estate; or

(ii) securing or preventing the appointment or nomination of a third person as a trustee of a regulated debtor's estate.

Penalty: Imprisonment for 6 months.