Bankruptcy Act 1966
On an application under section 185T , the Court may make an order declaring a debt agreement void.185U(2) Limit on declaring debt agreement void on grounds of non-compliance with this Part.
The Court must not declare all or part of a debt agreement void on the ground that it does not comply with this Part if the agreement or part of the agreement complies substantially with this Part.185U(3) Declaring a debt agreement void on grounds of deficient statement of affairs.
The Court must not declare all or part of a debt agreement void on the ground that the statement of affairs lodged with the debt agreement was deficient, unless the Court is satisfied that it is in the creditors ' interests to declare the agreement or part of the agreement void.185U(4) Sequestration order.
If the Court makes an order declaring all of a debt agreement void, the Court may also make a sequestration order if a creditor applied for the sequestration order.185U(5) Ancillary orders.
If the Court makes an order declaring all or part of a debt agreement void, the Court may make such other orders as the Court thinks fit.
An order under subsection (5) may be an order directing a person to pay another person compensation of such amount as is specified in the order. This subsection does not limit subsection (5).