Bankruptcy Legislation Amendment Act 2004 (80 of 2004)

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

Part 1   Amendment of the Bankruptcy Act 1966

Division 2   Amendments relating to Part X agreements

53   After subsection 188(2B)

Insert:

(2C) If the person authorised is a registered trustee or solicitor, the authority signed by the debtor under this section is not effective for the purposes of this Part unless, before the person authorised consents to exercise the powers given by the authority, the debtor gives to the person authorised:

(a) a statement of the debtor's affairs; and

(b) a proposal for dealing with them under this Part.

Note: Section 6A sets out requirements for statements of affairs.

(2D) If the person authorised is the Official Trustee, the authority signed by the debtor under this section is not effective for the purposes of this Part unless, before an Official Receiver gives approval to name the Official Trustee in the authority, the debtor gives to the Official Receiver:

(a) a statement of the debtor's affairs; and

(b) a proposal for dealing with them under this Part.

Note: Section 6A sets out requirements for statements of affairs.

(2E) A proposal for dealing with the debtor's affairs under this Part must include a draft personal insolvency agreement.

Note: Section 188A sets out requirements for personal insolvency agreements.