FEDERAL COURT OF AUSTRALIA - GENERAL DIVISION

DEPUTY COMMISSIONER OF TAXATION (NSW) v CLYNE

NEAVES J

17 August 1983 -

Order

1. That the Official Trustee in Bankruptcy take control of the property of the judgment debtor until further order.

2. That the Official Trustee in Bankruptcy open an account in the joint names of the judgment debtor and the Official Trustee with a trading bank within the city of Sydney and arrange with the said bank that moneys may be withdrawn from the said account only upon the authority of the Official Trustee in Bankruptcy or a nominated officer of such Official Trustee.

3. That the Official Trustee in Bankruptcy furnish to the judgment debtor and to the applicant within 24 hours of the account being opened details of the said account.

4. That the judgment debtor deposit with the said bank for the credit of the said account all moneys, cheques, negotiable instruments and other documents and instruments representing money received by the judgment debtor on or after the date of this order in respect of advice given or services performed by the judgment debtor (whether before or after the date of this order) in or in connection with his activities as a consultant on legal, taxation or financial matters or in respect of any other business activities carried on by him (whether before or after the date of this order) or by way of advances or royalties in respect of books written or to be written by the judgment debtor.

5. That the judgment debtor take all necessary steps to ensure that all moneys, cheques, negotiable instruments and other documents and instruments representing money received by any company on or after the date of this order in respect of advice given or services performed by the judgment debtor (whether before or after the date of this order) in or in connection with his activities as a consultant on legal, taxation or financial matters or in respect of any other business activities carried on by him (whether before or after the date of this order) or by way of advances or royalties in respect of books written or to be written by the judgment debtor are deposited with the said bank for the credit of the said account.

6. That the judgment debtor keep adequate records of all moneys, cheques, negotiable instruments and other documents and instruments representing money to which the preceding orders relate and deliver such records to the Official Trustee in Bankruptcy whenever requested to do so by the said Official Trustee.

7. That the Official Trustee in Bankruptcy be authorised to make payment out of the said account of such business and reasonable living expenses of the judgment debtor as the said Official Trustee shall approve.

8. That the applicant be restrained until further order from issuing any notice in writing pursuant to s 218 of the Income Tax Assessment Act 1936 directed to the said bank in relation to the said account.

9. That the judgment debtor before 4.00 pm on 22 August 1983 deliver to the Official Trustee in Bankruptcy at St James Centre, 111 Elizabeth Street, Sydney -

(a) all the books, documents, papers and writings in his possession or power relating to his trade dealings, property or affairs;

(b) all the books, documents, papers and writings in his possession or power relating to the trade dealings, property or affairs of Nesseldorf Pty Ltd, Sharsie Pty Ltd, Metropolitan Mortgage Investment Corp Pty Ltd, Oeax 3 Pty Ltd, Nadove Pty Ltd, Peter Clyne International Pty Ltd and any other company of which the judgment debtor is a director or in which he owns beneficially any share; and

(c) all share certificates held by him in Nesseldorf Pty Ltd, Sharsie Pty Ltd, Metropolitan Mortgage Investment Corp Pty Ltd, Oeax 3 Pty Ltd, Nadove Pty Ltd, Peter Clyne International Pty Ltd and any other company in which he owns beneficially any share.

10. That the judgment debtor be restrained, without the prior approval of the Court, from paying, lending or depositing any money with, or transferring or delivering any property to, a person who, or a company which, is an " associate " within the meaning of that expression as defined in sub-s 82KH(1) of the Income Tax Assessment Act 1936 of the judgment debtor or who or which would be an " associate " as so defined of the judgment debtor if the judgment debtor were a taxpayer within the meaning of that expression as used in the said sub-section.

11. That the judgment debtor be restrained, without the prior approval of the Court, from remitting, transferring, sending or taking moneys or other property out of Australia provided that this order shall not operate to restrain the judgment debtor in the event of his travelling overseas from taking with him such amount by way of reasonable travelling expenses as the Official Trustee in Bankruptcy shall approve.

12. That the judgment debtor take all necessary steps to ensure that, without the prior approval of the Court, no moneys received by any company prior to the date of this order in respect of advice given or services performed by the judgment debtor in or in connection with his activities as a consultant on legal, taxation or financial matters or in respect of any other business activities carried on by him or by way of advances or royalties in respect of books written or to be written by the judgment debtor are remitted, transferred, sent or taken out of Australia.

13. That the judgment debtor take all necessary steps to ensure that the deed of agreement expressed to be made 8 August 1983 between the judgment debtor and Nesseldorf Pty Ltd is not executed by or on behalf of the said company.

14. That the judgment debtor be restrained without the prior approval of the Court from releasing any person or company from any indebtednes of that person or company to the judgment debtor.

15. That the parties have liberty to apply.

16. That the judgment debtor pay the applicant ' s costs of and incidental to the application.

17. That the application by the judgment debtor that this order be stayed or that its operation be suspended be refused.