BANKRUPTCY ACT 1966

PART X - PERSONAL INSOLVENCY AGREEMENTS  

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

SECTION 192   CHANGING THE CONTROLLING TRUSTEE  

192(1)   [When Official Trustee becomes controlling trustee]  

If a registered trustee or solicitor who has consented to exercise the powers given by an authority under section 188 :


(a) dies; or


(b) ceases to be a registered trustee or solicitor; or


(c) becomes incapable of exercising his or her powers under this Part; or


(d) gives the Official Trustee a written request to be relieved of duties under this Part;

then:


(e) the Official Trustee becomes the controlling trustee; and


(f) the debtor may sign a new authority under section 188 .

192(2)   [New authority]  

If the debtor signs a new authority under section 188 naming a registered trustee or solicitor, the registered trustee or solicitor becomes the controlling trustee when he or she consents to exercise the powers given by the authority.

192(3)   [Creditors meeting or Court]  

If:


(a) a meeting of creditors or the Court nominates a registered trustee or the Official Trustee to be the trustee of a personal insolvency agreement; and


(b) the nominated trustee is not already the controlling trustee;

the nominated trustee becomes the controlling trustee when the nominated trustee consents to act as trustee of the agreement.

192(4)   [Powers and duties]  

A person who becomes the controlling trustee under this section:


(a) has the same powers and duties as the person originally authorised by the debtor under section 188 ; and


(b) is taken for the purposes of this Division to have done any act or thing duly done earlier by an earlier controlling trustee.

192(5) - (6)  
(Omitted by No 44 of 1996, Sch 1, Pt 1(343).)




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