Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]


Changing the controlling trustee

  (1)   If a registered trustee or solicitor who has consented to exercise the powers given by an authority under section   188:

  (a)   dies; or

  (b)   ceases to be a registered trustee or solicitor; or

  (c)   becomes incapable of exercising his or her powers under this Part; or

  (d)   gives the Official Trustee a written request to be relieved of duties under this Part;


  (e)   the Official Trustee becomes the controlling trustee; and

  (f)   the debtor may sign a new authority under section   188.

  (2)   If the debtor signs a new authority under section   188 naming a registered trustee or solicitor, the registered trustee or solicitor becomes the controlling trustee when he or she consents to exercise the powers given by the authority.

  (3)   If:

  (a)   a meeting of creditors or the Court nominates a registered trustee or the Official Trustee to be the trustee of a personal insolvency agreement; and

  (b)   the nominated trustee is not already the controlling trustee;

the nominated trustee becomes the controlling trustee when the nominated trustee consents to act as trustee of the agreement.

  (4)   A person who becomes the controlling trustee under this section:

  (a)   has the same powers and duties as the person originally authorised by the debtor under section   188; and

  (b)   is taken for the purposes of this Division   to have done any act or thing duly done earlier by an earlier controlling trustee.

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback