BANKRUPTCY ACT 1966

PART IX - DEBT AGREEMENTS  

Division 5 - Ending a debt agreement  

SECTION 185QA   TERMINATING A DEBT AGREEMENT - DESIGNATED 6-MONTH ARREARS DEFAULT  

185QA(1)   [ Requirements once debt notified]  

If:


(a) the administrator of a debt agreement notifies the Official Receiver that a designated 6-month arrears default by the debtor has occurred; and


(b) the Official Receiver is satisfied that the designated 6-month arrears default has occurred;

the Official Receiver must:


(c) declare in writing that the agreement is terminated; and


(d) record the declaration on the National Personal Insolvency Index.

185QA(2)   [ Record on index terminates debt agreement]  

The debt agreement is terminated when the declaration is recorded on the National Personal Insolvency Index.




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