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(a) the period of 21 days beginning on that day ends;
(b) a creditor’s petition or a debtor’s petition is presented against the debtor;
(c) the debtor signs an authority under section 188; or
(d) a sequestration order is made against the debtor;
whichever happens first.
stay under a proclaimed law, in relation to a person or the estate of a deceased person, means a stay, by or under a proclaimed law, of proceedings or of execution in relation to all or any of the debts of that person or of that estate, as the case may be.
stepchild: without limiting who is a stepchild of a person for the purposes of this Act, someone is the stepchild of a person if he or she would be the person’s stepchild except that the person is not legally married to the person’s de facto partner.
Territory, except in the expression “Territory of the Commonwealth”, means the Australian Capital Territory or the Northern Territory of Australia.
the commencement of the bankruptcy, in relation to a bankrupt, means the time at which his or her bankruptcy is, by virtue of section 115, to be deemed to have commenced.
the Court means a Court having jurisdiction in bankruptcy under this Act.
the date of the bankruptcy, in relation to a bankrupt, means the date on which a sequestration order was made against his or her estate or, if he or she became a bankrupt by virtue of the presentation of a debtor’s petition, the date on which he or she became a bankrupt by force of section 55, 56E or 57, as the case requires.
the Family Court means the Family Court of Australia.
the Federal Court means the Federal Court of Australia.
the Official Receiver means any Official Receiver.
the property of the bankrupt, in relation to a bankrupt, means:
(a) except in subsections 58(3) and (4):
(i) the property divisible among the bankrupt’s creditors; and
(ii) any rights and powers in relation to that property that would have been exercisable by the bankrupt if he or she had not become a bankrupt; and
(b) in subsections 58(3) and (4):
(i) the property, rights and powers referred to in paragraph (a) of this definition; and
(ii) any other property of the bankrupt.
the trustee means:
(a) in relation to a bankruptcy — the trustee of the estate of the bankrupt; or
(b) in relation to a composition or scheme of arrangement under Division 6 of Part IV — the trustee of the composition or scheme of arrangement; or
(c) in relation to a personal insolvency agreement — the trustee of the agreement; or
(d) in relation to the estate of a deceased person in respect of which an order has been made under Part XI — the trustee of the estate; or
(e) in relation to a trust:
(i) if only one person is a trustee of the trust — that person; or
(ii) if 2 or more persons are trustees of the trust — any one or more of those persons;
in his, her or its capacity as a trustee, or in their respective capacities as trustees, as the case may be, of the trust.
this Act includes the regulations.
(1A) A reference in this Act to books of an associated entity of a person does not limit the generality of any other reference in this Act to books.
(1B) A reference in this Act to an entity includes, in the case of a trust, a reference to the trustee of the trust.
(1C) Paragraph (b) of the definition of examinable affairs in subsection (1) does not limit the generality of a reference in this Act to a person’s conduct, dealings, transactions, property or affairs.
(2) A person is solvent if, and only if, the person is able to pay all the person’s debts, as and when they become due and payable.
(3) A person who is not solvent is insolvent.
(4) Unless the contrary intention appears, a reference in this Act to the trustee of the estate of a bankrupt, or to the trustee of a personal insolvency agreement, shall:
(a) in relation to an estate or a personal insolvency agreement in respect of which there are 2 or more joint trustees — be read as a reference to all the trustees; or
(b) in relation to an estate or a personal insolvency agreement in respect of which there are 2 or more joint and several trustees — be read as a reference to all of the trustees or any one or more of the trustees.
(5) To avoid doubt, a Federal Magistrate is taken to be a Judge of a Court having jurisdiction under this Act.
(6) For the purposes of this Act, the members of a person’s family are taken to include the following (without limitation):
(a) a de facto partner of the person;
(b) someone who is the child of the person, or of whom the person is the child, because of the definition of child in this section;
(c) anyone else who would be a member of the person’s family if someone mentioned in paragraph (a) or (b) is taken to be a member of the person’s family.
5A Acting in accordance with a person’s directions or instructions
For the purposes of this Act, a person shall not be regarded as a person in accordance with whose directions or instructions the directors of a body corporate are accustomed to act merely because the directors act on advice given by the person in the proper performance of the functions attaching to the person’s professional capacity or to the person’s business relationship with the directors or with the body corporate.
5B Associated entities: companies
(1) For the purposes of this Act, a company is associated with a person if the person:
(a) is a company officer of the company or otherwise is concerned, or takes part, in the company’s management; or
(b) is able to control, or to influence materially, the company’s activities or internal affairs; or
(c) is a member of the company; or
(d) is in a position to cast, or to control the casting of, a vote at a general meeting of the company; or
(e) has power to dispose of, or to exercise control over the disposal of, a share in the company; or
(f) is financially interested in the company’s success or failure or apparent success or failure; or
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