BANKRUPTCY ACT 1966
Note: See section 4A .PART 3 - GENERAL RULES RELATING TO ESTATE ADMINISTRATIONS
The trustee of a regulated debtor ' s estate must deposit in a bank:
(a) the bills of exchange; and
(b) the promissory notes; and
(c) any other negotiable instrument or security;
payable to the regulated debtor or the trustee as soon as practicable after they are received by the trustee.Exception 65-40(2)
If the Court gives a direction that is inconsistent with subsection (1), that subsection does not apply to the extent of the inconsistency. Offence 65-40(3)
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: 5 penalty units.
A defendant bears an evidential burden in relation to the matter in subsection (2) (see subsection 13.3(3) of the Criminal Code ).
See also section 277B (about infringement notices).Delivery of securities 65-40(4)
The bills, notes or other instrument or security must be delivered out on the signed request of the trustee.