Section 139ZIC — Bankruptcy Act 1966: Trustee may determine that the supervised account regime applies to the bankrupt

(1) The trustee of a bankrupt’s estate may, by written notice given to the bankrupt, determine that the supervised account regime applies to the bankrupt. (2) The trustee must not make a determination under subsection (1) in relation to the bankrupt unless, at the time the determination is made: (a) the bankrupt is liable to pay a contribution; and (b) either: (i) if the trustee has made a determination under section 139ZG permitting the contribution to be paid by instalments—the bankrupt has not paid the whole of an instalment at or before the time when it became payable; or (ii) if the trustee has made a determination under section 139ZG requiring the bankrupt to pay the contribution at a specified time—the bankrupt has not paid the whole of the contribution at or before the time when it became payable. (3) A notice under subsection (1) must be in the approved form. (4) A notice under subsection (1) must be accompanied by: (a) a supervised account notice relating to the bankrupt concerned; and (b) a statement setting out: (i) the effect of sections 139ZIE to 139ZIT; and (ii) such other information (if any) as is specified in the regulations.