BANKRUPTCY ACT 1966

PART X - PERSONAL INSOLVENCY AGREEMENTS  

Division 1 - Interpretation  

SECTION 187   INTERPRETATION  

187(1)  


In this Part, unless the contrary intention appears:

composition
(Repealed by No 80 of 2004)

controlling trustee ,
in relation to a debtor whose property is subject to control under Division 2, means the person who is the controlling trustee under section 188 or 192 .

debtor
means a person who is insolvent.

deed of arrangement
(Repealed by No 80 of 2004)

deed of assignment
(Repealed by No 80 of 2004)

divisible property ,
in relation to a personal insolvency agreement executed by a debtor, means the property, other than property that was acquired by, or devolved on, the debtor on or after the day on which he or she executed the agreement, that would be divisible amongst his or her creditors under Part VI if he or she had become a bankrupt on that day.

the controlling trustee
(Omitted by No 44 of 1996, Sch 1, Pt 1(323).)

the Registrar
(Omitted by No 44 of 1996, Sch 1, Pt 1(324).)

187(1A)  
Without limiting the definition of debtor in subsection (1), a reference in this Part to a debtor shall, unless the contrary intention appears, be read as including a reference to a person who is for the time being insolvent, even if the person may ultimately cease to be insolvent.

187(2)  


In this Part, a reference, in relation to a personal insolvency agreement, to a provable debt shall be read as a reference to a debt or liability that would have been a provable debt in the debtor ' s bankruptcy if the debtor had become a bankrupt on the day on which he or she executed the personal insolvency agreement.



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