BANKRUPTCY ACT 1966

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (BANKRUPTCY)  

Note: See section 4A .

PART 3 - GENERAL RULES RELATING TO ESTATE ADMINISTRATIONS  

Division 65 - Funds handling  

SECTION 65-25   PAYING MONEY OUT OF ADMINISTRATION ACCOUNT  

Money only to be paid out of administration account in accordance with this Act etc.

65-25(1)  
The trustee of a regulated debtor ' s estate must not pay any money out of the administration account for the estate otherwise than:


(a) for purposes related to the administration of the estate; or


(b) in accordance with this Act; or


(c) in accordance with a direction of the Court. Offence

65-25(2)  
A person commits an offence of strict liability if:


(a) the person is subject to a requirement under subsection (1); and


(b) the person fails to comply with the requirement.

Penalty: 50 penalty units.




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