Bankruptcy Regulations 2021

SCHEDULE 3 - MODIFICATIONS IN RELATION TO PART X OF THE ACT  

PART 2 - MODIFICATIONS OF PART VIII OF THE ACT - CONTROLLING TRUSTEES AND TRUSTEES OF PERSONAL INSOLVENCY AGREEMENTS  

Note:

19   Subsection 157(1)  
Repeal the subsection, substitute:

(1)
If:

(a) the Official Trustee is:

(i) under section 188 or 192 , the controlling trustee in relation to a debtor; or

(ii) under Part X , the trustee of a personal insolvency agreement; and

(b) the creditors wish to appoint, in place of the Official Trustee:

(i) a registered trustee or a solicitor as the controlling trustee; or

(ii) a registered trustee as the trustee of the personal insolvency agreement;

the creditors may do so by resolution at a meeting of creditors.