BANKRUPTCY ACT 1966
The creditors, with the written consent of the debtor, may vary a personal insolvency agreement by special resolution at a meeting called for the purpose.221A(2) Variation by trustee.
The trustee, with the written consent of the debtor, may, in writing, propose a variation of a personal insolvency agreement.221A(3)
The trustee must give notice of the proposed variation to all the creditors who are entitled to receive notice of a meeting of creditors.
The notice must:
(a) include a statement of the reasons for the variation and the likely impact it will have on creditors (if it takes effect); and
(b) specify a date (at least 14 days after the notice is given) from which it is proposed that the variation will take effect; and
(c) state that any creditor may, by written notice to the trustee at least 2 days before the specified date, object to the variation taking effect without there being a meeting of creditors. 221A(5)
If no creditor lodges a written notice of objection with the trustee at least 2 days before the specified date, then the proposed variation takes effect on the date specified in the notice. 221A(6)
A certificate signed by the trustee stating any matter relating to a proposed variation under subsection (2) is prima facie evidence of the matter.