Commonwealth Consolidated Acts

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BANKRUPTCY ACT 1966 - SECT 189AC

Right of indemnity for controlling trustee

             (1)  The controlling trustee is entitled to be indemnified out of the debtor's property for:

                     (a)  his or her remuneration; and

                     (b)  any costs, charges or expenses properly and reasonably incurred by the controlling trustee while the debtor's property was subject to control under this Division.

             (2)  To secure a right of indemnity under subsection (1), the controlling trustee has a lien on the debtor's property.

             (3)  A lien under subsection (2) ceases to have effect if the debtor becomes a bankrupt.



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