Section 189AC — Bankruptcy Act 1966: Right of indemnity for controlling trustee

(1) The controlling trustee is entitled to be indemnified out of the debtor’s property for: (a) his or her remuneration; and (b) any costs, charges or expenses properly and reasonably incurred by the controlling trustee while the debtor’s property was subject to control under this Division. (2) To secure a right of indemnity under subsection (1), the controlling trustee has a lien on the debtor’s property. (3) A lien under subsection (2) ceases to have effect if the debtor becomes a bankrupt.