BANKRUPTCY ACT 1966

PART X - PERSONAL INSOLVENCY AGREEMENTS  

Division 2 - Meeting of creditors and control of debtor ' s property  

SECTION 189AC   RIGHT OF INDEMNITY FOR CONTROLLING TRUSTEE  

189AC(1)   [Right of indemnity]  

The controlling trustee is entitled to be indemnified out of the debtor ' s property for:


(a) his or her remuneration; and


(b) any costs, charges or expenses properly and reasonably incurred by the controlling trustee while the debtor ' s property was subject to control under this Division.

189AC(2)   [Lien]  

To secure a right of indemnity under subsection (1), the controlling trustee has a lien on the debtor ' s property.

189AC(3)   [Lien ceases with bankruptcy]  

A lien under subsection (2) ceases to have effect if the debtor becomes a bankrupt.




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