Commonwealth Consolidated Acts

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Notice of execution of personal insolvency agreement

             (1)  The trustee of a personal insolvency agreement entered into in pursuance of this Part shall:

                     (a)  notify each creditor of the debtor as soon as practicable after the debtor and the trustee have executed the agreement; and

                     (b)  within 2 days after the execution of the agreement by the debtor and the trustee--file a copy of the agreement in the office of the Official Receiver.

             (2)  The trustee commits an offence if the trustee fails to comply with a requirement under paragraph (1)(b).

Penalty:  5 penalty units.

Note:          See also section 277B (about infringement notices).

          (2A)  Subsection (2) is an offence of strict liability.

Note:          For strict liability, see section 6.1 of the Criminal Code .

             (3)  A trustee must notify creditors under paragraph (1)(a) in the way prescribed by the regulations.

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