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

65   Section 194

Repeal the section, substitute:

194 Time for calling meeting

(1) The meeting that is to be called under an authority under section 188 must be held:

(a) not more than 25 working days after the relevant consent or approval was given; or

(b) if the relevant consent or approval was given in December - not more than 30 working days after the relevant consent or approval was given.

(2) For the purposes of subsection (1), the relevant consent or approval is:

(a) if the person authorised is a registered trustee or solicitor - the consent of the person to exercise the powers given by the authority; or

(b) if the person authorised is the Official Trustee - the approval given by the Official Receiver to name the Official Trustee in the authority.

(3) For the purposes of subsection (1), a working day is a day that is not a Saturday, Sunday or public holiday in the place where the meeting is to be held.

194A Statement of affairs and declarations of relationships to be tabled at meeting

Scope

(1) This section applies to a meeting that is called under an authority under section 188.

Debtor's statement of affairs

(2) The controlling trustee must table at the meeting a copy of the debtor's statement of affairs.

(3) If, assuming that the debtor had been required, immediately before the start of the meeting, to prepare a statement of affairs, that statement would have differed in one or more material respects from the statement given by the debtor under subsection 188(2C) or (2D), the debtor must table at the meeting a written statement identifying those differences.

Controlling trustee's declaration

(4) The controlling trustee must table at the meeting a copy of the declaration made by the controlling trustee under subsection 189A(3).

(5) If, assuming that the controlling trustee had been required, immediately before the start of the meeting, to make a declaration stating whether the debtor is a related entity of:

(a) the controlling trustee; or

(b) a related entity of the controlling trustee;

that declaration would have differed in one or more material respects from the declaration made by the controlling trustee under subsection 189A(3), the controlling trustee must table at the meeting a written statement identifying those differences.