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StatuteBankruptcy Act 1966

Section 19 — Bankruptcy Act 1966: Duties etc. of trustee

Text of the provision Official document

(1) The duties of the trustee of the estate of a bankrupt include the following: (a) notifying the bankrupt’s creditors of the bankruptcy; (b) determining whether the estate includes property that can be realised to pay a dividend to creditors; (c) reporting to creditors within 3 months of the date of the bankruptcy on the likelihood of creditors receiving a dividend before the end of the bankruptcy; (e) determining whether the bankrupt has made a transfer of property that is void against the trustee; (f) taking appropriate steps to recover property for the benefit of the estate; (g) taking whatever action is practicable to try to ensure that the bankrupt discharges all of the bankrupt’s duties under this Act; (h) considering whether the bankrupt has committed an offence against this Act; (i) referring to the Inspector-General or to relevant law enforcement authorities any evidence of an offence by the bankrupt against this Act; (j) administering the estate as efficiently as possible by avoiding unnecessary expense; (k) exercising powers and performing functions in a commercially sound way; (l) the duties imposed on the trustee under Schedule 2. (2) Where a person who became a bankrupt on a creditor’s petition is unable to prepare a proper statement of affairs, the trustee may employ, at the expense of the estate, a qualified person to assist in the preparation of the statement.

Official source: Federal Register of Legislation

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Statutory text from an official public source. Informational content — does not replace advice from a qualified legal practitioner.