Bankruptcy Regulations 2021
This section applies if: (a) a creditor lodges, or causes to be lodged, a proof of debt in a bankruptcy in accordance with section 84 of the Act; and (b) the debt is an amount of foreign currency.
24(2)
The proof of debt must include the following: (a) a statement of:
(i) the amount of foreign currency; and
(ii) the equivalent amount of Australian currency; and
(b) a statement to the effect that the conversion of the amount of foreign currency into the equivalent amount of Australian currency has been made in accordance with this section.
(iii) the conversion calculation for the equivalent amount of Australian currency;
24(3)
For the purposes of subparagraph (2)(a)(ii), the equivalent amount of Australian currency is the amount worked out using the rate of exchange for the foreign currency published by the Reserve Bank of Australia in relation to the day that is 2 business days before the date of the bankruptcy.
Note:
The Reserve Bank of Australia exchange rates could in 2021 be viewed on the Reserve Bank of Australia ' s website (http://www.rba.gov.au).
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.
