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.