Bankruptcy Legislation Amendment Act 2004 (80 of 2004)

Schedule 1 Amendments relating to statements of affairs and Part X agreements

Repeal the subsection, substitute:

(4) A person is disqualified from managing corporations if:

(a) the person has executed a personal insolvency agreement under:

(i) Part X of the Bankruptcy Act 1966; or

(ii) a similar law of an external Territory or a foreign country; and

(b) the terms of the agreement have not been fully complied with.

Note: The heading to subsection 206B(3) is replaced by the heading "Bankruptcy or personal insolvency agreement".