Bankruptcy Regulations (Amendment) 1997 (76 of 1997)

40.   Transitional

40.1 An amount paid under Division 3 of Part 16 of the Bankruptcy Regulations in respect of an estate or a debtor is to be offset against an amount of charge payable under Part 3 of the Bankruptcy (Estate Charges) Act 1997 in respect of the estate or debtor for the charge period (within the meaning of that Act) that commenced on 1 November 1996.

__________________ SCHEDULE Subregulation 35.1

FORM 1 Regulation 4.02

Bankruptcy Act 1966

BANKRUPTCY NOTICE

This Bankruptcy Notice is prescribed, under subs. 41 (2) of the Bankruptcy Act 1966 ("the Act"), by r. 4.02 of the Bankruptcy Regulations.

[NOTE: Words appearing below in italics are for guidance in the completion of this Notice, and are not to be reproduced in the Notice.]

To: (name)

("the debtor")

of: (address) ____

____

____

This Bankruptcy Notice is an important document. You should get legal advice if you are unsure of what to do after you have read it.

1. (name)

("the creditor")

of: (address) ____

____

____

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claims you owe the creditor a debt of $(amount), as shown in the Schedule.

2. The creditor claims that the debt is due and payable by you. A copy of the judgment or order relied upon by the creditor is attached. At the time of applying for this Notice, execution of the judgment or order had not been stayed.

3. You are required, within (insert number in accordance with the note to this paragraph) days after service on you of this Bankruptcy Notice:

(a) to pay to the creditor the amount of the debt; or

(b) to make an arrangement to the creditor's satisfaction for settlement of the debt.

[NOTE: The number of days to be inserted is 21 or, if an order has been made under subparagraph 40 (1) (g) (ii) of the Act, the number of days constituting the time fixed by the order.]

4. Payment of the debt can be made to:

(name) _________________________

of: (address) _________________________

_________________________

_________________________

[NOTE: The address must be within Australia.

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5. Bankruptcy proceedings may be taken against you if, within the time stated in paragraph 3, above:

(a) you do not comply with the requirements of either paragraph 3 (a) or paragraph 3 (b) above; and

(b) the Federal Court does not extend, or is not deemed to have extended, the time for compliance with this Bankruptcy Notice (see paragraph 6, below).

6. The Federal Court of Australia may extend the time for compliance with this Bankruptcy Notice if, within the time stated in paragraph 3 above, you apply to that Court on one or both of the following grounds:

(a) that you have instituted proceedings to set aside the judgment or order in respect of which this Bankruptcy Notice has been issued;

(b) that you have filed with the Federal Court of Australia an application (on one or more grounds, apart from the grounds mentioned in paragraph 7, below) to set aside this Bankruptcy Notice.

7. In addition, within the time specified in paragraph 3 above, you may file an application to the Federal Court of Australia for an order to set aside this Bankruptcy Notice on the specific grounds that:

(a) you have a counter-claim, set-off or cross demand equal to or exceeding the sum specified in this Bankruptcy Notice as owing to the creditor; and

(b) in the action or proceeding in which the judgment or order mentioned in paragraph 2 of this Bankruptcy Notice was obtained, you could not have set up that counter-claim, set-off or cross demand*.

* This means that, because of a legal obstacle, you could not have raised that counter-claim, set-off or cross demand in defence of the creditor's court action against you. It is not enough if, for example, you simply neglected or overlooked the matter.

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8. You should note the following points carefully:

(a) If you file, at the Federal Court Registry, an application mentioned in paragraph 6 (a) or (b) , you must still comply with this Bankruptcy Notice within the time stated in paragraph 3 above unless the Court extends the time for you to comply.

(b) If you file, at the Federal Court Registry, an application mentioned in paragraph 7 (a) , you need not comply with this Bankruptcy Notice until the Court decides whether you have grounds for a counter-claim, set-off or cross demand. Whether you will have to comply at that stage will depend on the Court's decision.

WARNING

9. The information in paragraphs 6, 7 and 8 is based on provisions of section 41 of the Act. The information is a summary only, and not a complete statement of the relevant law. It might be unwise to rely solely on this summary. If you need a more detailed explanation, you should seek legal advice.

10. The Federal Court Registry for your State or Territory is located at:

(set out the address and telephone number of the relevant Registry)

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Schedule

(NB: Amounts, where applicable, are to be inserted in column 2)

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For the Information of the Creditor -

Notes to the Schedule

Note 1: Legal costs (item 2 of the Schedule)

If legal costs are being claimed in this Bankruptcy Notice, a certificate of taxed or assessed costs in support of the amount claimed must be attached to this Bankruptcy Notice.

Note 2 : Interest accrued (item 3 of the Schedule)

If interest is being claimed in this Bankruptcy Notice, details of the calculation of the amount of interest claimed are to be set out in a document attached to this Bankruptcy Notice. The document must state:

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(a) the provision under which the interest is being claimed; and

(b) the principal sum on which, the period for which, and the interest rate or rates at which, the interest is being claimed.

(NB: If different rates are claimed for different periods, full details must be shown)

Note 3: Foreign currency amount conversion

(see Bankruptcy Regulations, reg. 4.04.)

Total debt owing, expressed in foreign currency (amount)

Commonwealth Bank of Australia opening telegraphic

transfer rate on __/__/__ (date) x (rate)

––––––––

Australian dollar equivalent = $ (amount)

––––––––

(delete Note 3 if not applicable)

For the Information of the Creditor

Note about use of information

It may be necessary to disclose some or all of the information provided by you on this Form to Government agencies and departments for any purpose under the Act. Also, the information may be included on a public record or given to other persons, bodies or agencies for purposes authorised by the Act.

_______________________________________________________

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The person who applied for this notice to be issued is:

___

(name)

who confirms by the following signature that he or she is the creditor/the creditor's authorised agent *:

(* delete as appropriate)

___

(signature)

and whose address for service is:

___

___

___

(address)

Telephone and fax numbers ___

(including STD code):

___

DX number (if applicable): ___

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FOR OFFICIAL USE ONLY

Dated this (date) day of (month) (year)

This notice was issued by the Official Receiver (or delegate or an officer authorised by the Official Receiver) for the Bankruptcy District of:

_______________________________________________________

address of Official Receiver:

_______________________________________________________

_______________________________________________________

_______________________________________________________

(signature or stamp of Official Receiver or delegate or authorised officer)