Bankruptcy Amendment (Debt Agreement Reform) Act 2018 (118 of 2018)

Schedule 2   Debt agreements

Part 7   Reporting requirements for debtors in arrears

Bankruptcy Act 1966

27   At the end of subsection 185LB(3)

Add:

; and (c) either:

(i) the total amount that the debtor was so in arrears exceeds $300, or 20% of the total of all of the due payments at the beginning of that 3-month period, whichever is higher; or

(ii) if the total of all of the due payments at the beginning of that 3-month period was $300 or less - no payment was made in that period to reduce any of the due payments.