Bankruptcy Act. Australia

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СКАЧАТЬ entity of:

      (a) the proposed trustee; or

      (b) a related entity of the proposed trustee.

      (3) The proposed trustee must:

      (a) give a copy of the declaration to the Official Receiver; and

      (b) give a copy of the declaration to the trustee of the bankrupt’s estate; and

      (c) keep a copy of the declaration.

      (4) The trustee of the bankrupt’s estate must give a copy of the declaration to each of the creditors at the same time as the trustee gives a copy of the subsection 73(2) report to each creditor.

      73C Statement of affairs and declarations of relationships to be tabled at meeting

      Scope

      (1) This section applies to a meeting that is called under section 73.

      Bankrupt’s statement of affairs

      (2) The trustee must table at the meeting a copy of the bankrupt’s statement of affairs.

      (3) If:

      (a) the bankrupt had been required, immediately before the start of the meeting, to prepare a statement of affairs; and

      (b) that statement would have differed in one or more material respects from the statement a copy of which was tabled under subsection (2);

      the bankrupt must table at the meeting a written statement identifying those differences.

      Proposed trustee’s declaration

      (4) If the proposal provides that a person (the proposed trustee) other than the trustee of the bankrupt’s estate is to become the trustee of the composition or scheme of arrangement, the trustee of the bankrupt’s estate must table at the meeting a copy of the declaration made by the proposed trustee under subsection 73B(2).

      (5) If:

      (a) the proposal provides that a person (the proposed trustee) other than the trustee of the bankrupt’s estate is to become the trustee of the composition or scheme of arrangement; and

      (b) assuming that the proposed trustee had been required, immediately before the start of the meeting, to make a declaration stating whether the bankrupt is a related entity of:

      (i) the proposed trustee; or

      (ii) a related entity of the proposed trustee;

      that declaration would have differed in one or more material respects from the declaration made by the proposed trustee under subsection 73B(2);

      the proposed trustee must table at the meeting a written statement identifying those differences.

      74 Annulment of bankruptcy [see Table B]

      (5) Upon the passing of a special resolution at a meeting of creditors of a bankrupt under subsection 73(4), the bankruptcy is annulled, by force of this subsection, on the date on which the special resolution was passed.

      (5A) The trustee must, before the end of the period of 2 days beginning on that date, give the Official Receiver a written notice setting out the name and the bankruptcy number of the former bankrupt and the date of the annulment.

      Penalty: 5 penalty units.

      Note: See also section 277B (about infringement notices).

      (5B) Subsection (5A) is an offence of strict liability.

      Note: For strict liability, see section 6.1 of the Criminal Code.

      (6) Where a bankruptcy is annulled under this section, all sales and dispositions of property and payments duly made, and all acts done, by the trustee or any person acting under the authority of the trustee or the Court before the annulment shall be deemed to have been validly made or done but, subject to subsection (7), the property of the bankrupt still vested in the trustee vests in such person as the Court appoints or, in default of such an appointment, reverts to the bankrupt for all his or her estate or interest in it, on such terms and subject to such conditions (if any) as the Court orders.

      (7) Where a law of the Commonwealth or of a State or Territory of the Commonwealth requires the transmission of property to be registered, any such property vested in the trustee at the time of the annulment of the bankruptcy, notwithstanding that it vests in equity in such person as the Court appoints or in the bankrupt, as the case may be, does not vest in that person or the bankrupt at law until the requirements of that law have been complied with.

      74A Variation of composition or scheme of arrangement

      (1) This section applies to a composition or scheme of arrangement that has been accepted in accordance with this Division.

      Variation by special resolution of creditors

      (2) The creditors, with the written consent of the debtor, may vary the composition or scheme by special resolution at a meeting called for the purpose.

      Variation proposal by trustee

      (3) The trustee may, in writing, propose a variation of the composition or scheme. The trustee cannot propose a variation without the written consent of the debtor.

      (4) The trustee must give notice of the proposed variation to all the creditors who would be entitled under section 64A (as that section applies in accordance with section 76A) to receive notice of a meeting of creditors.

      (5) The notice must:

      (a) include a statement of the reasons for the variation and the likely impact it will have on creditors (if it takes effect); and

      (b) specify a proposed date of effect for the variation (at least 14 days after the notice is given); and

      (c) state that any creditor may, by written notice to the trustee at least 2 days before the specified date, object to the variation taking effect without there being a meeting of creditors.

      (6) If no creditor lodges a written notice of objection with the trustee at least 2 days before the specified date, then the proposed variation takes effect on the date specified in the notice.

      (7) A certificate signed by the trustee stating any matter relating to a proposed variation under this section is prima facie evidence of the matter.

      75 Effect of composition or scheme of arrangement [see Table B]

      (1) Subject to this section, a composition or scheme of arrangement accepted in accordance with this Division is binding on all the creditors of the bankrupt so far as relates to provable debts due to them from the bankrupt.

      (2) The acceptance of a composition or scheme of arrangement does not:

      (a) except with the consent of the creditor to whom the debt is due, release the bankrupt from a provable debt that would not be released by his or her discharge from bankruptcy; or

      (b) release any other person from any liability from which he or she would not СКАЧАТЬ