BANKRUPTCY ACT 1966

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (BANKRUPTCY)  

Note: See section 4A .

PART 3 - GENERAL RULES RELATING TO ESTATE ADMINISTRATIONS  

Division 85 - Directions by creditors  

SECTION 85-5   TRUSTEE TO HAVE REGARD TO DIRECTIONS GIVEN BY CREDITORS  

85-5(1)  
The creditors may, by resolution, give directions to the trustee of a regulated debtor ' s estate in relation to the administration of the estate.

85-5(2)  
The trustee must have regard to any directions mentioned in subsection (1), but the trustee is not required to comply with such directions.

85-5(3)  
If the trustee does not comply with a direction, the trustee must make a written record of that fact, along with the trustee ' s reasons for not complying with the direction.

85-5(4)  
If there is a conflict between directions given by the creditors under subsection (1) and by the committee of inspection under section 80-35 , directions given by the creditors override any directions given by the committee.




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