Bankruptcy Regulations 2021

SCHEDULE 4 - MODIFICATIONS UNDER PART XI OF THE ACT - ADMINISTRATION OF ESTATES OF DECEASED PERSONS  

Note:

18   Section 74  
Repeal the section, substitute:

74 Annulment of administration  

(1)
If a proposal to annul the administration of an estate is accepted by a special resolution of creditors at a meeting held in accordance with the Insolvency Practice Rules, the administration of the estate is annulled, by force of this subsection, on the day the special resolution is passed.

(2)
Within 2 business days after that day, the trustee of the estate must give to the Official Receiver a certificate, signed by the trustee, of the following matters:

(a) the name of the estate;

(b) the number of the administration;

(c) the terms and date of the special resolution.

Penalty: 5 penalty units.

Note:

See also section 277B (about infringement notices).

(3)
An offence against subsection (2) is an offence of strict liability.

(4)
The Official Receiver must enter the day on which the administration of the estate is annulled in the National Personal Insolvency Index.