BANKRUPTCY ACT 1966

PART IX - DEBT AGREEMENTS  

Division 1 - Introduction  

SECTION 185   185   DEFINITIONS  


In this Part, unless the contrary intention appears:

account-freezing notice
means a notice under subsection 186LB(2) .

adequate and appropriate fidelity insurance
has a meaning affected by section 185A .

adequate and appropriate professional indemnity insurance
has a meaning affected by section 185A .

affected creditor
means:


(a) in relation to a proposal to vary or terminate a debt agreement - a creditor who is a party (as creditor) to the agreement; or


(b) in relation to a debt agreement proposal - a creditor who would be a party to the proposed debt agreement if it were made.

applicable deadline :

(a) in relation to a debt agreement proposal, means:


(i) if Official Receiver accepted the proposal for processing in December - the end of the 42nd day after the acceptance; or

(ii) otherwise - the end of the 35th day after the Official Receiver accepted the proposal for processing; or


(b) in relation to a proposal to vary a debt agreement, means:


(i) if the proposal was given to the Official Receiver in December - the end of the 42nd day after the proposal was given; or

(ii) otherwise - the end of the 35th day after the proposal was given to the Official Receiver; or


(c) in relation to a proposal to terminate a debt agreement, means:


(i) if the proposal was given to the Official Receiver in December - the end of the 21st day after the proposal was given; or

(ii) otherwise - the end of the 14th day after the proposal was given to the Official Receiver.

bank
(Repealed by No 11 of 2016)

basic eligibility test
has the meaning given by section 186A .

Chapter 5 body corporate
has the same meaning as in the Corporations Act 2001 .

debt agreement activities
of a company means the activities of the company in connection with:


(a) debt agreement proposals for which the company is to be the administrator; and


(b) debt agreements for which the company is the administrator.

debtor
(Repealed by No 44 of 2007)

designated 6-month arrears default
has the meaning given by subsection 185LC(3) .

externally-administered body corporate
(Repealed by No 11 of 2016)

frozen debt
means a debt that:


(a) is owed by a debtor who has given a debt agreement proposal that has been accepted by the Official Receiver for processing; and


(b) would be a provable debt in relation to the proposed debt agreement if it were made;

but does not include a debt arising under a maintenance agreement or maintenance order (whenever entered into or made).

insolvent under administration
(Repealed by No 46 of 2011)

proposed administrator
, in relation to a debt agreement proposal, means the person specified under paragraph 185C(2)(c) .

provable debt
, in relation to a debt agreement, means a debt that would have been provable in bankruptcy if the debtor had become a bankrupt when the acceptance of the relevant debt agreement proposal for processing was recorded in the National Personal Insolvency Index.

registered debt agreement administrator
means a person who is registered under section 186D as a debt agreement administrator.

working day
(Repealed by No 11 of 2016)

185(2)  
(Repealed by No 44 of 2007)

185(3)  
(Repealed by No 44 of 2007)




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