Commonwealth Consolidated Acts

BANKRUPTCY ACT 1966 - SECT 185LF

Scope

  (1)   This section applies if:

  (a)   a person (the earlier administrator ) ceases to be the administrator of a debt agreement; and

  (b)   another person (the later administrator ) becomes the administrator of the debt agreement in place of the earlier administrator.

Duty

  (2)   The earlier administrator must:

  (a)   prepare an account of:

  (i)   money received by the earlier administrator from the debtor in relation to the debt agreement; and

  (ii)   payments made by the earlier administrator in relation to the debt agreement; and

  (b)   keep a copy of the account; and

  (c)   give the later administrator:

  (i)   a copy of the account; and

  (ii)   a copy of any other accounts the earlier administrator received from a person who was the administrator of the debt agreement before the earlier administrator.