BANKRUPTCY ACT 1966

PART XV - PROVISIONS RELATING TO THE BANKRUPTCY (ESTATE CHARGES) ACT 1997  

SECTION 285   PAYMENTS BY CHEQUE OR PAYMENT ORDER  

285(1)   [When payment is made]  

If a person gives the Commonwealth a cheque or payment order in payment of an amount of interest charge, realisations charge or late payment penalty, the amount is taken not to be paid until the cheque or payment order is paid by the institution on which it is drawn.

285(2)   [Late payment penalty]  

If:


(a) a person gives the Commonwealth a cheque or payment order in payment of an amount of interest charge or realisations charge; and


(b) the cheque or payment order is paid by the institution on which it is drawn;

then, for the purposes of working out if there is a liability to late payment penalty, the amount of charge is taken to have been paid when the person gave the cheque to the Commonwealth.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.