Territories Legislation Amendment Act 2020 (154 of 2020)

Schedule 3   Amendments of Attorney-General's Department Acts

Part 1   Bankruptcy

Division 2   Application, saving and transitional provisions

15   Transitional - general

Application of amendments

(1) The amendments of the Commonwealth Bankruptcy Act made by Division 1 of this Part apply in relation to a transitional bankrupt.

How the Commonwealth Bankruptcy Act applies

(2) Anything done before the transition time by a person mentioned in column 1 of an item of the following table under or for the purposes of a provision of the Norfolk Island Bankruptcy Act in relation to a transitional bankrupt is taken to have been done by the person mentioned in column 2 of the item under, or for the purposes of, the corresponding provision (if any) of the Commonwealth Bankruptcy Act.

Determinations of bankruptcy

(3) Without limiting subitem (2) of this item, the Commonwealth Bankruptcy Act applies to a determination of bankruptcy under the Norfolk Island Bankruptcy Act in relation to a transitional bankrupt:

(a) as if the determination of bankruptcy were a sequestration order made under the Commonwealth Bankruptcy Act; and

(b) as if the date of the bankruptcy, in relation to the transitional bankrupt, for the purposes of the Commonwealth Bankruptcy Act, were the date of the order of the determination of bankruptcy.

(4) For the purposes of the application of the Commonwealth Bankruptcy Act to a determination of bankruptcy as mentioned in subitem (3) of this item, the Official Receiver must enter the following information on the National Personal Insolvency Index:

(a) particulars of the transitional bankrupt, to the extent that these are disclosed on the determination;

(b) the date of the bankruptcy;

(c) the name of the petitioning creditor;

(d) the name of the transitional bankrupt's trustee;

(e) the date the transitional bankrupt provided the statement required for the purposes of paragraph 51(b) of the Norfolk Island Bankruptcy Act;

(f) any other available information required to be entered on that Index, in relation to a sequestration order, by the Commonwealth Bankruptcy Act and regulations made under the Commonwealth Bankruptcy Act.

Note: When this item commenced, regulation 13.03 of the Bankruptcy Regulations 1996 and Schedule 8 to those regulations required certain information to be entered on that Index in relation to a sequestration order.

(5) On written notice from the Official Receiver, either or both of the following must provide information required under subitem (4) to be entered on the National Personal Insolvency Index:

(a) the Registrar of the Norfolk Island Supreme Court;

(b) the Norfolk Island official trustee.

Discharge from bankruptcy

(6) A transitional bankrupt is discharged from bankruptcy at the transition time if the date of the determination of the bankruptcy occurred 3 years or more before the transition time.