Commonwealth Consolidated Acts

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Duties of person entitled to deduct money owing to declared debtor

             (1)  Where, during the stay period in relation to a declaration of intention presented by a debtor, a copy of the declaration signed by the Official Receiver who accepted it is produced to a person who is entitled under a law of the Commonwealth, of a State or of a Territory:

                     (a)  to retain or deduct money from money payable or owing, or to become payable or owing, to the debtor; and

                     (b)  to apply the retained or deducted money toward discharging a frozen debt owed by the debtor to any person;

subsections (2) and (3) apply.

             (2)  The person shall, throughout the remainder of that period:

                     (a)  refrain from so retaining or deducting money; and

                     (b)  refrain from paying to a person (other than the debtor), or otherwise applying, money that was so retained or deducted before the signed copy was produced to the person.

             (3)  Nothing in this section affects a person's liability to pay money to the debtor.

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