Bankruptcy Act 1966
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Hide history noteIf a person gives the Commonwealth a cheque or payment order in payment of an amount of interest charge, realisations charge or late payment penalty, the amount is taken not to be paid until the cheque or payment order is paid by the institution on which it is drawn.
(a) a person gives the Commonwealth a cheque or payment order in payment of an amount of interest charge or realisations charge; and
(b) the cheque or payment order is paid by the institution on which it is drawn;
then, for the purposes of working out if there is a liability to late payment penalty, the amount of charge is taken to have been paid when the person gave the cheque to the Commonwealth.
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