BANKRUPTCY ACT 1966

PART XI - ADMINISTRATION OF ESTATES OF DECEASED PERSONS IN BANKRUPTCY  

SECTION 252C   EFFECT OF ANNULMENT  

252C(1)   [Sales etc before annulment etc, trustee may apply property etc, remainder etc]  

If the administration of the estate of a deceased person under this Part is annulled under section 252A or 252B :


(a) all sales and dispositions of property and payments duly made, and all acts done, by the trustee of the estate under this Part or any person acting under the authority of the trustee or the Court before the annulment are taken to have been validly made or done; and


(b) the trustee may apply the property still vested in the trustee in connection with the administration of the estate in payment of the costs, charges and expenses of the administration of the estate, including the remuneration and expenses of the trustee; and


(c) subject to subsection (2), the remainder (if any) of the property still vested in the trustee in connection with the administration of the estate reverts to the estate of the deceased person.

252C(2)   [Application to Court - para (1)(c)]  

If an application is made to the Court by a person claiming an interest in property referred to in paragraph (1)(c), the Court, after hearing such persons as it thinks fit, may make an order, either unconditionally or on such conditions as the Court considers just and equitable, for the vesting of the property in, or delivery of the property to, a person in whom, or to whom, it seems to the Court to be just and equitable that it should be vested or delivered, or to a trustee for that person.

252C(3)   [Subject to subsec (4) - property vests immediately]  

Subject to subsection (4), if an order vesting property in a person is made under subsection (2), the property vests immediately in the person without any conveyance, transfer or assignment.

252C(4)   [Registration]  

If:


(a) the property to which such an order relates is property the transfer of which is required by a law of the Commonwealth, of a State or of a Territory to be registered; and


(b) that law enables the registration of such an order;

the property, even though it vests in equity in the person named in the order, does not vest in that person at law until the requirements of that law have been complied with.




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