BANKRUPTCY ACT 1966

PART VI - ADMINISTRATION OF PROPERTY  

Division 4B - Contribution by bankrupt and recovery of property  

Subdivision H - When contribution payable  

SECTION 139ZH   IF EXCESS CONTRIBUTION PAID  

139ZH(1)   [Not entitled to refund]  

If:


(a) a person has paid an amount in respect of the contribution that the person was assessed to be liable to pay in respect of a contribution assessment period; and


(b) as a result of a subsequent assessment:


(i) the person is not liable to pay a contribution in respect of that period; or

(ii) the amount referred to in paragraph (a) exceeds the amount of the contribution that the person is liable to pay in respect of that period;

the person is not entitled to a refund of the amount paid or of the excess, as the case may be.

139ZH(2)   [Trustee to apply contribution]  

If a person has paid in respect of a contribution assessment period an amount that, because of a subsequent assessment made in respect of that period, the person was not liable to pay, the trustee is to apply that amount in or towards any contribution that the person is liable to pay in respect of a later contribution assessment period.




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