Bankruptcy Regulations 1996

SCHEDULE 6 - MODIFICATIONS IN RELATION TO PART X OF THE ACT  

(regulations 10.01 , 10.05 , 10.07 , 10.08 and 10.13 )

PART 3 - MODIFICATIONS OF PART VIII OF THE ACT - CONTROLLING TRUSTEES AND TRUSTEES OF PERSONAL INSOLVENCY AGREEMENTS  

3   Subsection 157(1)  



3 substitute
  (1) If:
        (a) the Official Trustee is:
          (i) under section 188 or 192, the controlling trustee in relation to a debtor; or
          (ii) under Part X, the trustee of a personal insolvency agreement; and
        (b) the creditors wish to appoint, in place of the Official Trustee:
          (i) a registered trustee or a solicitor as the controlling trustee; or
          (ii) a registered trustee as the trustee of the personal insolvency agreement;
      the creditors may do so by resolution at a meeting of creditors.


 

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