Bankruptcy Regulations 1996
For paragraph 185C(2D)(b) of the Act, the following information is prescribed:
(a) information about alternatives to entering into a debt agreement;
(b) information about the consequences of making a debt agreement proposal;
(c) information about sources of financial advice and guidance to persons facing or contemplating entering into a debt agreement;
(d) a statement that it is an act of bankruptcy for a debtor to give to the Official Receiver a debt agreement proposal.
View history note
Hide history note9.01(2)
The information must be factual and objective.
9.01(3)
The Official Receiver must not accept a debtor ' s debt agreement proposal under Division 2 of Part IX of the Act, unless the debtor has given to the Official Receiver a signed acknowledgment that the debtor has received and read the prescribed information.
9.01(4)
If the debtor presents a debt agreement proposal without having given the acknowledgement, the Official Receiver must:
(a) if the debtor presents the debt agreement proposal in person - give the prescribed information to the debtor; or
(b) if the debtor presents the debt agreement proposal by post - post the prescribed information to the debtor.
9.01(5)
Subregulation (6) applies if a debtor intends to present a debt agreement proposal and the debtor is:
(a) unable to read the relevant material, because he or she is:
(i) blind, partially sighted, illiterate or partially literate; or
(ii) insufficiently familiar with the English language; or
(b) unable to sign the debt agreement proposal or the acknowledgment, because of a physical incapacity.
9.01(6)
The debt agreement proposal and the acknowledgement may be signed by another person, who must sign a statement:
(a) if subparagraph (5)(a)(i) applies - that he or she has read the relevant material to the debtor; or
(b) if subparagraph (5)(a)(ii) applies - that he or she has interpreted the relevant material to the debtor in a language with which both persons are familiar; or
(c) if paragraph (5)(b) applies - that he or she believes that the debtor has read and understood the relevant material.
9.01(7)
In this regulation:
relevant material
means the debt agreement proposal, the prescribed information and the acknowledgment.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
