BANKRUPTCY ACT 1966

PART IX - DEBT AGREEMENTS  

Division 7 - General provisions relating to debt agreements  

SECTION 185ZB   OFFICIAL TRUSTEE TO REPLACE AN ADMINISTRATOR WHO DIES ETC.  

185ZB(1)  
If the administrator of a debt agreement dies, the Official Trustee becomes the replacement administrator of that debt agreement.

185ZB(2)  
If:


(a) a person who is the administrator of a debt agreement is registered under Division 8 ; and


(b) the person ceases to be so registered;

then:


(c) the person ceases to be the administrator of that debt agreement; and


(d) the Official Trustee becomes the replacement administrator of that debt agreement.

185ZB(3)  
If:


(a) a person who is the administrator of a debt agreement is a registered trustee; and


(b) the person ceases to be a registered trustee;

then:


(c) the person ceases to be the administrator of that debt agreement; and


(d) the Official Trustee becomes the replacement administrator of that debt agreement.

185ZB(4)  


If:


(a) a person is the administrator of a debt agreement; and


(b) under section 186M , the person becomes ineligible to act as the administrator of the debt agreement;

then:


(c) the person ceases to be the administrator of that debt agreement; and


(d) the Official Trustee becomes the replacement administrator of that debt agreement.

185ZB(5)  
If, under section 185ZCB , the Court removes the administrator of a debt agreement from office, the Official Trustee becomes the replacement administrator of that debt agreement.

185ZB(6)  


If, under subsection (1), (2), (3), (4) or (5), the Official Trustee becomes the replacement administrator of a debt agreement, the Official Receiver must notify the parties to the debt agreement that:


(a) the Official Trustee is the replacement administrator until further notice; and


(b) (if applicable) the Official Receiver intends to appoint another person as the new administrator.




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