BANKRUPTCY ACT 1966

PART IV - PROCEEDINGS IN CONNEXION WITH BANKRUPTCY  

Division 2A - Declaration of intention to present debtor ' s petition  

SECTION 54F   DUTIES OF SHERIFF  

54F(1)   [Declaration produced to sheriff]  

Where, during the stay period in relation to a declaration of intention presented by a debtor, a copy of the declaration signed by the Official Receiver who accepted it is produced to a sheriff, subsections (2) and (3) have effect throughout the remainder of that period.

54F(2)   [Limits on execution and sale]  

The sheriff shall refrain from taking action, or further action, to execute, or to sell property under, enforcement process issued in respect of a frozen debt owed by the debtor.

54F(3)   [Limits on payment of proceeds of enforcement]  

The sheriff shall refrain from paying to a person proceeds of enforcement process issued in respect of a frozen debt owed by the debtor.

54F(4)   [Effect of contravention on title]  

A contravention of this section does not affect a person ' s title to property that was purchased in good faith under a sale under enforcement process issued in respect of a debt.

54F(5)   [Costs of execution]  

Where:


(a) under this section, a sheriff refrains from taking action, or further action, to sell real property under enforcement process issued in respect of a debt;


(b) the debtor becomes a bankrupt; and


(c) the property vests in the trustee of the bankrupt ' s estate;

the costs of executing the enforcement process are a first charge on the property.




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