S 185L repealed by No 44 of 2007, s 3 and Sch 2 item 42, applicable in relation to:
(a) a debt agreement proposal given to the Official Receiver on or after 1 July 2007; and
(b) a debt agreement made as the result of the acceptance of a debt agreement proposal given to the Official Receiver on or after 1 July 2007.
S 185L formerly read:
185L DISTRIBUTION OF PROPERTY UNDER A DEBT AGREEMENT
the property subject to a debt agreement is not sufficient to pay in full, or to the extent provided by the agreement, all the debtor
s provable debts; and
the debt agreement does not specify how the property is to be distributed among the creditors;
the property must be distributed among the creditors in proportion to the provable debts.
S 185L inserted by No 44 of 1996, Sch 1, Pt 1(320).