BANKRUPTCY ACT 1966

PART VI - ADMINISTRATION OF PROPERTY  

Division 4B - Contribution by bankrupt and recovery of property  

Subdivision I - Collection of money or property by Official Receiver from person other than the bankrupt  

SECTION 139ZK   PERSONS TO WHOM SUBDIVISION APPLIES  

139ZK(1)   [Subdivision applies to]  

This Subdivision applies to a person:


(a) from whom any money is due or accruing, or may become due, to a bankrupt; or


(b) who holds, or may subsequently hold, money for or on account of a bankrupt; or


(c) who holds, or may subsequently hold, money on account of some other person for payment to or on behalf of a bankrupt; or


(d) who has authority from some other person to pay money to or on behalf of a bankrupt; or


(e) who is liable to pay money or transfer property wholly or principally in consideration of personal services supplied by a bankrupt after the commencement of the bankruptcy, whether the services were supplied to the first-mentioned person or to some other person; or


(f) who has received money or property wholly or principally in consideration of personal services supplied by a bankrupt after the commencement of the bankruptcy, whether the services were supplied to the first-mentioned person or to some other person.

139ZK(2)   [ Personal services ]  

In subsection (1):

personal services
, in relation to a bankrupt, means personal services as defined by subsection 5(1), whether or not supplied for the payment of money, or the provision of other consideration, to the bankrupt.

139ZK(3)   [Money taken to be due etc]  

If, apart from this subsection, money would not be due, or would not be repayable on demand, to a person, or the obligation to transfer property to a person would not arise, unless a condition were fulfilled, then, for the purposes of this section, the money is taken to be due or to be repayable on demand, or the obligation to transfer the property to the person is taken to arise, as the case may be, even though the condition has not been fulfilled.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.