BANKRUPTCY ACT 1966

PART VI - ADMINISTRATION OF PROPERTY  

Division 3 - Property available for payment of debts  

Subdivision A - General  

SECTION 127   LIMITATION OF TIME FOR MAKING CLAIMS BY TRUSTEE ETC.  

127(1)   [Claim after 20 years]  

After the expiration of 20 years from the date on which a person became a bankrupt, a claim shall not be made by the trustee in the bankruptcy to any property of the bankrupt, and that property shall, subject to the rights, if any, of a person other than the trustee in respect of the property, be deemed to be vested in the bankrupt, or a person claiming through or under him or her, as the case may be.

127(2)   [Action under s 118(9)]  

An action under subsection 118(9) with respect to a charge or charging order shall not be commenced by the trustee of the estate of a bankrupt after the expiration of 6 years from the date on which the bankrupt became a bankrupt.

127(3)   [Action under s 120]  

An action under section 120 with respect to a transfer shall not be commenced by the trustee of the estate of a bankrupt after the expiration of 6 years from the date on which the bankrupt became a bankrupt.

127(4)   [Action under s 121]  

An action under section 121 with respect to a transfer of property may be commenced by the trustee of the estate of a bankrupt at any time.

127(5)   [Action under s 122]  

An action under section 122 with respect to a transfer of property shall not be commenced by the trustee of the estate of a bankrupt after the expiration of 6 years from the date on which the bankrupt became a bankrupt.




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