Bankruptcy Amendment Regulations 2006 (No. 1) (4 of 2006)

Schedule 1   Amendments

[5]   After paragraph 9.06 (1) (e)

insert

(f) if the administrator is to be remunerated under the debt agreement:

(i) maintain a separate record, in relation to the debt agreement, of receipts and payments, and of the balance of money held by the administrator; and

(ii) pay all money received on account of the debt agreement into a single interest-bearing bank account that holds money relating only to debt agreements; and

(iii) at least once every 45 days, reconcile the balance held in that bank account with the corresponding record maintained under subparagraph (i).

Note Sections 185Z and 185ZD of the Act make provision in relation to the remuneration of an administrator (other than the Official Trustee) of a debt agreement.