Bankruptcy Act 1966
Sections and provisions with full text and the judgments that cite each one.
Section 152 — Discharged bankrupt to give assistance
A discharged bankrupt must, even though discharged, give such assistance as the trustee reasonably requires in the realization and distribution of such of his or her property as is vested in the…
Section 153 — Effect of discharge
(1) Subject to this section, where a bankrupt is discharged from a bankruptcy, the discharge operates to release him or her from all debts (including secured debts) provable in the bankruptcy,…
Section 153A — Annulment on payment of debts
(1) If the trustee is satisfied that all the bankrupt’s debts have been paid in full, the bankruptcy is annulled, by force of this subsection, on the date on which the last such payment was made.…
Section 153B — Annulment by Court
(1) If the Court is satisfied that a sequestration order ought not to have been made or, in the case of a debtor’s petition, that the petition ought not to have been presented or ought not to have…
Section 154 — Effect of annulment
(1) If the bankruptcy of a person (in this section called the former bankrupt) is annulled under this Division: (a) all sales and dispositions of property and payments duly made, and all acts done,…
Section 156A — Consent to act as trustee
(1) A registered trustee may, by instrument signed by him or her and filed with the Official Receiver, consent to act: (a) as the trustee of the estate of the debtor specified in the instrument in…
Section 157 — Appointment of trustees
(1) Where a debtor becomes a bankrupt, the creditors may, if the Official Trustee is the trustee of the estate of the bankrupt, by resolution, at a meeting of creditors, appoint a registered trustee…
Section 158 — Appointment of more than one trustee etc.
(1) The creditors may, if they think fit, appoint 2 or more registered trustees jointly, or jointly and severally, to the office of trustee, and in either such case the property of the bankrupt vests…
Section 159 — Vacancy in office of trustee
(1) The creditors may, at a meeting of the creditors, fill any vacancy in the office of trustee. (2) An Official Receiver shall, on the requisition of a creditor, summon a meeting of creditors for…
Section 160 — Official Trustee to be trustee when no registered trustee is trustee
If at any time there is no registered trustee who is the trustee of the estate of a bankrupt, the Official Trustee shall, by force of this section, be the trustee of the estate.
Section 161 — Trustee may act in official name
(1) The trustee of the estate of a bankrupt may sue and be sued by the prescribed official name and may, by that name, hold, dispose of or acquire property of every description, make contracts, enter…
Section 163 — Remuneration of the Official Trustee
(1) The Official Trustee is to be remunerated as determined by the Minister by legislative instrument. (2) An amount equal to each amount of remuneration received by the Official Trustee shall be…
Section 163A — Costs and expenses of Official Receiver
(1) If any Official Receiver exercises any power under this Act in relation to a bankrupt, the costs and expenses of the Official Receiver in connection with the exercise of the power are taken to be…
Section 180 — Resignation of trustee
The Court may, subject to such terms and conditions as it thinks just, accept the resignation of a registered trustee from the office of trustee of an estate.
Section 181A — Streamlined method for replacing trustee
(1) The current trustee of a bankrupt’s estate may, with the written consent of another trustee (either a registered trustee or the Official Trustee), nominate the other trustee as the new trustee of…
Section 183 — Release of registered trustee by the Court
(1) A trustee may apply to the Court for an order of release from the trusteeship of an estate. (2) Where the Court is satisfied that the trustee: (a) has realized all the property of the bankrupt or…
Section 184 — Release of registered trustee by operation of law after 7 years
(1) If the trustee of the estate of a bankrupt: (a) is a registered trustee; and (b) has not already been released from being trustee of the estate under section 183; the trustee is released at the…
Section 184A — Release of the Official Trustee
(1) Where the Official Trustee becomes the trustee of the estate of a bankrupt upon the release of a registered trustee under section 183 or 184, the Official Trustee does not become personally…
Section 185 — Definitions
In this Part, unless the contrary intention appears: account-freezing notice means a notice under subsection 186LB(2). adequate and appropriate fidelity insurance has a meaning affected by section…
Section 185A — Adequate and appropriate professional indemnity and fidelity insurance
The Inspector-General may, by legislative instrument, determine what constitutes adequate and appropriate professional indemnity insurance, and adequate and appropriate fidelity insurance, in…
Section 185EA — Processing of debt agreement proposal
Processing of proposals by the Official Receiver (1) If the Official Receiver is required by subsection 185E(5) to process a debt agreement proposal, the Official Receiver must write to each of the…
Section 185LA — Duties of an administrator—general
(1) The duties of an administrator of a debt agreement include: (a) dealing with the debtor’s property in the manner specified in the debt agreement; and (b) giving information about the…
Section 185LDA — Offence relating to the trust account
A person commits an offence of strict liability if: (a) the person is subject to a requirement under subsection 185LD(1), (2) or (2A); and (b) the person fails to comply with the requirement.…
Section 185LEA — Annual return
(1) If, during a financial year, an administrator of a debt agreement administered the agreement, the administrator must, within the period of 25 business days after the end of that year, give the…
Section 185MA — Procedures for dealing with proposals to vary debt agreements
Processing of proposals by the Official Receiver (1) If the Official Receiver is required by subsection 185M(2) to process a proposal to vary a debt agreement, the Official Receiver must write to…
Section 185NA — Release of debtor from debts
Time and effect of release (1) When a debt agreement ends under subsection 185N(1), the debtor is released from provable debts from which the debtor would have been released if the debtor had been…
Section 185PA — Procedures for dealing with proposals to terminate debt agreements
Processing of proposals by the Official Receiver (1) If the Official Receiver is required by subsection 185P(2) to process a proposal to terminate a debt agreement, the Official Receiver must write…
Section 185QA — Terminating a debt agreement—designated 6-month arrears default
(1) If: (a) the administrator of a debt agreement notifies the Official Receiver that a designated 6-month arrears default by the debtor has occurred; and (b) the Official Receiver is satisfied that…
Section 185XA — Secured creditors
Nothing in this Division affects the right of a secured creditor to realise or otherwise deal with the creditor’s security.
Section 185ZA — Notification of death of administrator
(1) If the administrator in relation to a debt agreement dies, the person (the affected person) administering the estate of the deceased person must, before the end of the period of 28 days beginning…
Section 185ZCA — Court may order administrator to make good loss caused by breach of duty
(1) This section applies if, on application by: (a) the Inspector-General; or (b) a creditor who is or has been a party to a debt agreement; the Court is satisfied that a person who is or has been an…
Section 185EB — Inspection of creditor’s statement
If an affected creditor gives a paragraph 185EA(2)(b) statement: (a) the debtor; or (b) any other affected creditor; may, without fee and either personally or by an agent: (c) inspect the statement;…
Section 185LB — Administrator to notify creditors of a 3-month arrears default by a debtor
(1) If a 3-month arrears default by a debtor occurs at a particular time in relation to a debt agreement, the administrator of the debt agreement must notify, in writing, each creditor who is a party…
Section 185MB — Inspection of creditor’s statement
If an affected creditor gives a paragraph 185MA(2)(b) statement: (a) the debtor; or (b) any other affected creditor; may, without fee and either personally or by an agent: (c) inspect the statement;…
Section 185PB — Inspection of creditor’s statement
If an affected creditor gives a paragraph 185PA(2)(b) statement: (a) the debtor; or (b) any other affected creditor; may, without fee and either personally or by an agent: (c) inspect the statement;…
Section 185ZB — Official Trustee to replace an administrator who dies etc.
(1) If the administrator of a debt agreement dies, the Official Trustee becomes the replacement administrator of that debt agreement. (2) If: (a) a person who is the administrator of a debt agreement…
Section 185ZCB — Control of administrators by the Court
If a debt agreement is in force, the Court may, on the application of: (a) the Inspector-General; or (b) the debtor; or (c) a creditor; inquire into the conduct of the administrator, and may do…
Section 185C — Giving a debt agreement proposal to the Official Receiver
Giving a debt agreement proposal (1) A debtor who is insolvent may give the Official Receiver a written proposal for a debt agreement. Requirements for a debt agreement proposal (2) A debt agreement…
Section 185EC — Acceptance of a debt agreement proposal
Acceptance in writing (1) A debt agreement proposal is accepted if: (a) the Official Receiver writes to affected creditors of a debtor under section 185EA; and (b) a majority in value of the…
Section 185LC — Administrator to notify Official Receiver of a designated 6-month arrears default by a debtor
(1) If a designated 6-month arrears default by a debtor occurs at particular time in relation to a debt agreement, the administrator of the debt agreement must notify, in writing, the Official…
Section 185MC — Acceptance of a proposal to vary a debt agreement
Acceptance in writing (1) A proposal to vary a debt agreement is accepted if: (a) the Official Receiver writes to affected creditors of a debtor under section 185MA; and (b) a majority in value of…
Section 185PC — Acceptance of a proposal to terminate a debt agreement
Acceptance in writing (1) A proposal to terminate a debt agreement is accepted if: (a) the Official Receiver writes to affected creditors of a debtor under section 185PA; and (b) a majority in value…
Section 185ZC — Official Receiver may appoint a new administrator
(1) If the parties to a debt agreement have not already varied the agreement to appoint a new administrator, the Official Receiver may appoint another person to be the administrator of the agreement…
Section 185D — Statement of affairs to be given with a debt agreement proposal
(1) A debtor who gives the Official Receiver a debt agreement proposal must give the Official Receiver a statement of the debtor’s affairs with the proposal. Note: Section 6A sets out requirements…
Section 185ED — Cancellation of acceptance of debt agreement proposal for processing
Scope (1) This section applies if: (a) the Official Receiver has accepted a debt agreement proposal for processing; and (b) the applicable deadline has not arrived. Cancellation (2) The Official…
Section 185LD — Administrator to maintain separate bank account
(1) A person who is: (a) either: (i) a registered debt agreement administrator; or (ii) a registered trustee; and (b) the administrator of one or more debt agreements; must pay all money received by…
Section 185MD — Withdrawal of proposal to vary a debt agreement
Scope (1) This section applies if: (a) a proposal to vary a debt agreement is given under section 185M; and (b) the applicable deadline has not arrived; and (c) the proposal has not been accepted.…
Section 185PD — Withdrawal of proposal to terminate a debt agreement
Scope (1) This section applies if: (a) a proposal to terminate a debt agreement is given under section 185P; and (b) the applicable deadline has not arrived; and (c) the proposal has not been…
Section 185ZD — Remuneration of administrator
A person who becomes the administrator in relation to a debt agreement under section 185ZC is entitled to so much of the remuneration (if any) provided for in the agreement as has not already been…
Section 185E — Accepting a debt agreement proposal for processing
(2) If a debtor gives the Official Receiver a debt agreement proposal, the Official Receiver may accept the proposal for processing if: (a) the Official Receiver is satisfied that subsections…