BANKRUPTCY ACT 1966

PART X - PERSONAL INSOLVENCY AGREEMENTS  

Division 2 - Meeting of creditors and control of debtor ' s property  

SECTION 205A   DUTIES OF SHERIFF AFTER RECEIVING NOTICE OF EXECUTION OF PERSONAL INSOLVENCY AGREEMENT ETC.  

205A(1)  
(Repealed by No 80 of 2004)

205A(2)  
(Repealed by No 80 of 2004)

205A(3)  
(Repealed by No 80 of 2004)

205A(4)  
Subject to this section, where:


(a) the sheriff is satisfied:


(i) that a debtor has executed a personal insolvency agreement; and

(ii) that:

(A) property of the debtor in his or her possession under a process of execution issued by or on behalf of a creditor; or

(B) proceeds of the sale of property of the debtor or other moneys in his or her possession, being proceeds of the sale of property sold, whether before or after the execution of the agreement, in pursuance of any such process or moneys seized, or paid to avoid seizure or sale of property of the debtor, whether before or after the execution of the agreement, in pursuance of any such process; or

(C) moneys in his or her possession as a result of the attachment, by or on behalf of a creditor, of a debt due to the debtor;
is not, or are not, subject to the agreement;
the sheriff shall deliver that property, or pay those proceeds or other moneys, as the case requires, to the debtor or to a person authorized by the debtor in writing for the purpose; or


(b) the registrar or other appropriate officer of a court is satisfied:


(i) that a debtor has executed a personal insolvency agreement; and

(ii) that:

(A) proceeds of the sale of property of the debtor or other moneys in court, being proceeds of sale or other moneys paid into court, whether before or after the execution of the agreement, by a sheriff in pursuance of a process of execution issued, by or on behalf of a creditor, against property of the debtor; or

(B) moneys in court that have been paid into court, whether before or after the execution of the agreement, in pursuance of proceedings instituted, by or on behalf of a creditor, to attach a debt due to the debtor;
are not subject to the agreement,
the registrar or other officer shall pay those proceeds or other moneys, as the case requires, to the debtor or to a person authorized by the debtor in writing for the purpose.

205A(5)  
The sheriff, registrar or other officer of a court shall not, in pursuance of subsection (4):


(a) in the case of the sheriff - deliver property or pay the proceeds of the sale of property or other moneys; or


(b) in the case of the registrar or other officer - pay moneys in court;

to the debtor or to a person authorized by the debtor unless:


(c) 21 days have elapsed since the day on which the personal insolvency agreement was executed; and


(d) the sheriff, registrar or other officer, as the case may be, is satisfied that application has not been made to the Court for an order to set aside or terminate the agreement or that the application, or each application, made for such an order has been withdrawn or dismissed.

205A(6)  
Subject to this section, where:


(a) the sheriff is satisfied:


(i) that a debtor has executed a personal insolvency agreement; and

(ii) that:

(A) property of the debtor in his or her possession under a process of execution issued by or on behalf of a creditor; or

(B) proceeds of the sale of property of the debtor or other moneys in his or her possession, being proceeds of the sale of property sold, whether before or after the execution of the agreement, in pursuance of any such process or moneys seized, or paid to avoid seizure or sale of property of the debtor, whether before or after the execution of the agreement, in pursuance of any such process; or

(C) moneys in his or her possession as a result of the attachment, by or on behalf of a creditor, of a debt due to the debtor;
is, or are, subject to the agreement;
the sheriff shall deliver that property, or pay those proceeds or other moneys, as the case requires, to the trustee of the agreement; or


(b) the registrar or other appropriate officer of a court is satisfied:


(i) that a debtor has executed a personal insolvency agreement; and

(ii) that:

(A) proceeds of the sale of property of the debtor or other moneys in court, being proceeds of sale or other moneys paid into court, whether before or after the execution of the agreement, by a sheriff in pursuance of a process of execution issued, by or on behalf of a creditor, against property of the debtor; or

(B) moneys in court that have been paid into court, whether before or after the execution of the agreement, in pursuance of proceedings instituted, by or on behalf of a creditor, to attach a debt due to the debtor;
are subject to the agreement;
the registrar or other officer shall pay those proceeds or other moneys, as the case requires, to the trustee of the agreement.

205A(7)  


The sheriff, registrar or other officer of a court shall not, in pursuance of subsection (6):


(a) in the case of the sheriff - deliver property or pay the proceeds of the sale of property or other moneys; or


(b) in the case of the registrar or other officer - pay moneys in court;

to the trustee of the agreement unless:


(c) 21 days have elapsed since the day on which the personal insolvency agreement was executed; and


(d) the sheriff, registrar or other officer, as the case may be, is satisfied that application has not been made to the Court for an order to set aside or terminate the agreement or that the application, or each application, made for such an order has been withdrawn or dismissed.

205A(8)  


Where property is, or the proceeds of the sale of property or other moneys are, required by subsection (4) or (6) to be delivered or paid to the trustee of a personal insolvency agreement or to a debtor or a person authorized by the debtor, the costs of the execution or attachment, as the case may be, are a first charge on that property or those proceeds of sale or other moneys, as the case may be.

205A(9)  
For the purpose of giving effect to the charge referred to in subsection (8), the sheriff, registrar or other officer of a court may retain, on behalf of the creditor entitled to the benefit of the charge, such amount from the proceeds of sale or other moneys referred to in that subsection as he or she thinks necessary for the purpose.

205A(10)  


Where a sheriff, registrar or other officer of a court has, in pursuance of subsection (4) or (6), delivered property or paid moneys to the trustee of a personal insolvency agreement or to the debtor or a person authorized by a debtor, the creditor who issued the process of execution or instituted the attachment proceedings, or on whose behalf the process was issued or the proceedings instituted, as the case may be, may prove under the agreement as an unsecured creditor as if the execution or attachment, as the case may be, had not taken place.

205A(11)  
(Repealed by No 80 of 2004)

205A(12)  


Where:


(a) property has been delivered by a sheriff, or the proceeds of the sale of property or other moneys have been paid by a sheriff, registrar or other officer of a court:


(i) to a debtor, or a person authorised by the debtor under subsection (4); or

(ii) to the trustee of a personal insolvency agreement under subsection (6); and

(iii) - (iv) (Repealed by No 80 of 2004)


(b) the property was in the possession of the sheriff, or the proceeds of the sale of the property or the other moneys were in the possession of the sheriff or paid into court, as the case may be, under or in pursuance of a process of execution issued, or proceedings to attach a debt instituted, by or on behalf of a creditor in respect of a liability of the debtor under a maintenance agreement or maintenance order (whether entered into or made, as the case may be, before or after the commencement of this section);

the trustee, debtor or other person, as the case may be, to whom the property has been delivered, or those proceeds or other moneys have been paid, shall deliver that property, or pay those proceeds or other moneys, as the case requires, to that creditor.

205A(13)  
A failure by a sheriff to comply with a provision of this section does not affect the title of a person who purchases property of a debtor in good faith under a sale by the sheriff in pursuance of a process of execution issued by or on behalf of a creditor.


 

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