BANKRUPTCY ACT 1966

PART IX - DEBT AGREEMENTS  

Division 2 - Debt agreement proposals  

SECTION 185ED   CANCELLATION OF ACCEPTANCE OF DEBT AGREEMENT PROPOSAL FOR PROCESSING  

185ED(1)   Scope.  

This section applies if:


(a) the Official Receiver has accepted a debt agreement proposal for processing; and


(b) the applicable deadline has not arrived.

185ED(2)   Cancellation.  

The Official Receiver may cancel the acceptance of the debt agreement proposal for processing if:


(a) the Official Receiver becomes aware that one or more affected creditors were not disclosed in the debtor ' s statement of affairs; or


(b) the Official Receiver becomes aware that:


(i) the debtor ' s statement of affairs; or

(ii) the debtor ' s subsection 185C(2B) statement;
was deficient because it omitted a material particular or because it was incorrect in a material particular; or


(c) the Official Receiver becomes aware of a material change in the debtor ' s circumstances that:


(i) was not foreshadowed in the debtor ' s subsection 185C(2B) statement or the debtor ' s statement of affairs; and

(ii) in the opinion of the Official Receiver, is capable of affecting an affected creditor ' s decision whether or not to accept the proposal; or


(d) the Official Receiver becomes aware of a matter that, if it had been known to the Official Receiver at the time of acceptance of the debt agreement proposal for processing, would have resulted in a refusal of acceptance on the grounds that subsection 185C(4) had not been complied with.

185ED(3)   Notification of cancellation.  

If the Official Receiver cancels the acceptance of a debt agreement proposal for processing, the Official Receiver must give written notice of the cancellation, and the reasons for it, to:


(a) the debtor; and


(b) affected creditors who are known to the Official Receiver.

185ED(4)   Review.  

If the Official Receiver decides to cancel the acceptance of a debt agreement proposal for processing, the debtor may apply to the Administrative Appeals Tribunal for review of the decision.




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