S 299 repealed by No 4 of 2010, s 3 and Sch 1 item 201, effective 20 February 2010. S 299 formerly read:
SECTION 299 Determinations by Inspector-General in Bankruptcy about suspended and distributable funds
299(1)
The Inspector-General in Bankruptcy may determine whether the amount of
*
suspended funds credited to the
*
Confiscated Assets Account:
(a)
is likely to be insufficient to meet the payments to be made out of those funds for the purposes of subsection
297(1)
; or
(b)
is likely to exceed the amount required to meet those payments.
299(2)
If the Inspector-General in Bankruptcy determines that the amount of
*
suspended funds is likely to be insufficient to meet the payments to be made out of the suspended funds, the Inspector-General in Bankruptcy must specify an amount of the
*
distributable funds that is to be identified as suspended funds.
299(3)
The amount specified under subsection (2) must not be more than the amount required to meet those payments.
299(4)
However, if the Inspector-General in Bankruptcy determines that the amount of
*
suspended funds is likely to exceed the amount required to meet those payments, the Inspector-General in Bankruptcy must specify an amount of the suspended funds that is to be identified as
*
distributable funds.
299(5)
The amount specified under subsection (4) must not be more than the amount of the likely excess.
299(6)
The Inspector-General in Bankruptcy may make a determination under subsection (1) at such times as the Inspector-General in Bankruptcy considers appropriate, but must make at least one determination in every 6 months.
299(7)
Distributable funds
are amounts credited to the
*
Confiscated Assets Account that are:
(a)
identified as distributable funds in accordance with the regulations (other than money that is identified by the Inspector-General in Bankruptcy under subsection (2) as
*
suspended funds); or
(b)
identified by the Inspector-General in Bankruptcy under subsection (4) as distributable funds.
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