BANKRUPTCY ACT 1966

PART X - PERSONAL INSOLVENCY AGREEMENTS  

Division 3 - General provisions  

SECTION 231A   RIGHT OF DEBTOR TO REMAINING PROPERTY  

231A(1)   [Debtor ' s entitlement]  

The debtor to whom a personal insolvency agreement relates is entitled to any property remaining after payment in full of:


(a) the costs, charges and expenses of the administration of the agreement; and


(b) all provable debts; and


(c) interest on interest-bearing provable debts.

231A(2)   [Court order]  

The Court may make an order directing the trustee not to pay or transfer the property, or a specified part of the property, referred to in subsection (1), to the debtor if:


(a) an application is made for an order under this subsection by a person mentioned in subsection (2A); and


(b) the Court is satisfied that proceedings are pending under a proceeds of crime law; and


(c) the Court is satisfied that property of the debtor may:


(i) become subject to a forfeiture order or interstate forfeiture order made in the proceedings; or

(ii) be required to satisfy a pecuniary penalty order or interstate pecuniary penalty order made in the proceedings.

231A(2A)  


For the purposes of paragraph (2)(a), the application may be made by:


(a) in the case of pending proceedings in relation to a forfeiture order or a pecuniary penalty order under the Proceeds of Crime Act 2002 - the Commonwealth proceeds of crime authority that is, or that is proposed to be, the responsible authority for the application for the order under that Act; or


(b) in the case of pending proceedings under a corresponding law - a person who is entitled to apply for an interstate confiscation order under the corresponding law.

231A(3)   [Court may vary or revoke order]  

The Court, on application made to it, may vary or revoke an order made under subsection (2).




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