BANKRUPTCY ACT 1966

PART II - ADMINISTRATION  

Division 2 - Common Investment Fund  

SECTION 20F   MONEYS IN COMMON FUND NOT HELD ON ACCOUNT OF PARTICULAR ESTATES ETC.  

20F(1)   [Moneys not held for particular estate]  

No moneys in the Common Fund shall be held, or be deemed for any purpose to be held, on account of any particular estate or fund.

20F(2)   [Investments]  

Investments made from moneys in the Common Fund shall not be made, and shall not be deemed for any purpose to be made, on account of any particular estate or fund.

20F(3)   [Appreciation or depreciation in value]  

Any capital appreciation or depreciation in the value of investments made from moneys in the Common Fund shall not increase or decrease the amount payable under this Act in respect of any estate or fund.

20F(4)   [Profit or loss]  

The making of a capital profit or capital loss on the realization of investments made from moneys in the Common Fund shall not increase or decrease the amount payable under this Act in respect of any estate or fund.

20F(5)   [Interest]  

Interest derived from the investment of moneys in the Common Fund shall not increase the amount payable under this Act in respect of any estate or fund.

20F(6)   [Accounts to be kept]  

The Official Trustee shall cause accounts to be kept showing the amount in the Common Fund from time to time standing to the credit of each estate or fund in respect of which moneys have been paid into the Common Fund.

20F(7)   [Moneys held by Official Trustee]  

Moneys received or held by the Official Trustee as trustee of any estate or fund do not cease to be moneys in hand for the purposes of this Act by reason only that those moneys have been paid into or become part of the Common Fund.

20F(8)   [Definitions]  

In this section:

estate
means the estate of a bankrupt or of a deceased debtor.

fund
means a fund of moneys referred to in paragraph 20J(1)(b).




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