Bankruptcy Legislation Amendment (Debt Agreements) Act 2007 (44 of 2007)

Schedule 2   Amendments commencing on 1 July 2007

Bankruptcy Act 1966

26   Subsection 185E(2)

Repeal the subsection, substitute:

(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 185C(2), (2A), (2B), (2E) and (4) have been complied with; and

(b) if the person specified under paragraph 185C(2)(c) is not the debtor - the Official Receiver is satisfied that subsection 185C(2D) has been complied with; and

(c) if the debt agreement proposal is expressed to be subject to the occurrence of a specified event within a specified period after the debt agreement proposal is accepted - the Official Receiver is satisfied that subsection 185C(2F) has been complied with; and

(d) if the proposal provides for the remuneration of the person specified under paragraph 185C(2)(c) - the Official Receiver is satisfied that subsection 185C(3A) has been complied with; and

(e) the Official Receiver is satisfied that the statement of affairs accompanying the proposal is in order.