Bankruptcy Act 1966

Div 2 heading substituted by No 11 of 2016, s 3 and Sch 1 item 51, applicable in relation to the administration of regulated debtors ' estates on and after 1 September 2017. The heading formerly read:

Division 2 - Remuneration and costs

S 164 repealed by No 11 of 2016, s 3 and Sch 1 item 53, applicable in relation to the administration of regulated debtors ' estates on and after 1 September 2017. S 164 formerly read:

SECTION 164 TWO OR MORE TRUSTEES ACTING IN SUCCESSION  
164(1)
If one person acts as a trustee of the estate of a bankrupt after another person has acted as the trustee, their remuneration and expenses are to be divided between them, if necessary, on a basis:

(a) that they agree on; and

(b) that is endorsed by a resolution passed at a meeting of the creditors.

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History

S 164(1) amended by No 12 of 1980, s 84; substituted by No 44 of 1996, Sch 1, Pt 1(302).

164(2)
When a person (the earlier trustee ) ceases to be the trustee of the estate of a bankrupt because another person (the later trustee ) has become trustee, the earlier trustee must:

(a) prepare an account of his or her receipts and payments (including remuneration and expenses) for the period that he or she was trustee; and

(b) keep a copy of the account; and

(c) give each creditor a copy of the account; and

(d) give the later trustee a copy of the account and any other accounts the earlier trustee has received from a person who was the trustee before the earlier trustee.

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History

S 164(2) amended by No 12 of 1980, s 84; substituted by No 44 of 1996, Sch 1, Pt 1(302).

164(3)
The later trustee must allow an authorised employee to inspect at any reasonable time an account received from the earlier trustee.

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History

S 164(3) amended by No 131 of 2002, s 3 and Sch 1 item 141, by substituting " an authorised employee " for " an officer of the Department " , effective 5 May 2003.

S 164(3) inserted by No 44 of 1996, Sch 1, Pt 1(302).