Bankruptcy Regulations 1996
(regulation 11.02 )
16 Section 75 (Effect of composition or scheme of arrangement) 16.1Subsection 75(2):
Omit the subsection.
16.2
Subparagraphs 75(4)(b)(i), (ii), (iii) and (iv):
Omit the subparagraphs, substitute:
| ' (i) | the creditors or the estate of the deceased person will suffer injustice or undue delay if the composition or scheme of arrangement proceeds; or | |
| (ii) | the approval of the creditors resulted from a misrepresentation by the legal personal representative; or | |
| (iii) | it is desirable that the deceased person ' s: | |
| (A) | affairs be investigated; or | |
| (B) | estate be administered; | |
| under this Act; or | ||
| (iv) | it is likely that the creditors will receive a greater dividend if the estate is again administered under this Act; ' . |
16.3
Subsection 75(4):
Omit ' trustee ' , substitute ' trustee, the legal personal representative ' .
16.4
Subsection 75(6), (7) and (8):
Omit the subsections, substitute:
| ' (6) | In this section: | |
| legal personal representative , in relation to a deceased person, means: | ||
| (a) | the executor under the deceased person ' s will; or | |
| (b) | the administrator under letters of administration or court order; | |
| of the deceased person ' s estate, or a part of that estate. ' |
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