BANKRUPTCY ACT 1966

PART X - PERSONAL INSOLVENCY AGREEMENTS  

Division 3 - General provisions  

SECTION 224A   NOTICE THAT A PERSONAL INSOLVENCY AGREEMENT HAS BEEN SET ASIDE, VARIED OR TERMINATED  

224A(1)  


If a personal insolvency agreement is terminated or varied by a resolution or special resolution at a meeting of creditors called for the purpose, the trustee of the agreement must, before the end of the period of 2 days beginning on the day of the termination or variation, file a copy of the resolution or special resolution in the office of the Official Receiver.

Penalty: 5 penalty units.

Note:

See also section 277B (about infringement notices).

224A(2)  


If a personal insolvency agreement is varied in accordance with subsection 221A(5) , the trustee of the agreement must, before the end of the period of 2 days beginning on the day of the variation, file a copy of the variation in the office of the Official Receiver.

Penalty: 5 penalty units.

Note:

See also section 277B (about infringement notices).

224A(3)  


If a personal insolvency agreement is terminated by the occurrence of any circumstance or event on the occurrence of which the deed provides that it is to terminate, the trustee of the agreement must, before the end of the period of 2 days beginning on the day of the termination, give written notice of that fact to the Official Receiver.

Penalty: 5 penalty units.

Note:

See also section 277B (about infringement notices).

224A(4)  


If:


(a) the Court makes an order setting aside or terminating a personal insolvency agreement; and


(b) a registered trustee was the trustee of the personal insolvency agreement;

the registered trustee must, before the end of the period of 2 days beginning on the day the trustee becomes aware of the order, give written notice of the order to the Official Receiver.

Penalty: 5 penalty units.

Note:

See also section 277B (about infringement notices).

224A(5)  


If:


(a) the Court makes an order setting aside or terminating a personal insolvency agreement; or


(b) a personal insolvency agreement is terminated otherwise than because of an order of the Court;

the trustee of the personal insolvency agreement must give written notice of the order or termination to each of the creditors within 2 business days of the making of the order or of the termination, as the case may be.

Penalty: 5 penalty units.

Note:

See also section 277B (about infringement notices).

224A(6)  
(Repealed by No 11 of 2016)

224A(7)  


Subsections (1), (2), (3), (4) and (5) are offences of strict liability.
Note:

For strict liability, see section 6.1 of the Criminal Code .




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