Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) This section is made for the purposes of section 70 - 40 of the Insolvency Practice Schedule (Bankruptcy).
Unreasonable requests
(2) It is not reasonable for the trustee of a regulated debtor's estate to comply with a request to give information, provide a report or produce a document to the creditors if the trustee, acting in good faith, is of the opinion that:
(a) complying with the request would substantially prejudice the interests of one or more creditors or a third party and that prejudice outweighs the benefits of complying with the request; or
(b) the information, report or document would be privileged from production in legal proceedings on the ground of legal professional privilege; or
(c) disclosure of the information, report or document would found an action by a person for breach of confidence; or
(d) there is not sufficient available property to comply with the request; or
(e) the information, report or document has already been provided; or
(f) the information, report or document is required to be provided under the Act (including regulations made under the Act) within 20 business days of the request being made; or
(g) the request is vexatious.
(3) Without limiting paragraph (2)(g), a request may be taken to be vexatious if the trustee receives the request within 20 business days of receiving a similar request from the creditors.
Reasonable requests
(4) It is reasonable for the trustee of a regulated debtor's estate to comply with a request to give information, provide a report or produce a document to the creditors if subsection (2) does not apply to the request.
(5) Despite paragraph (2)(d), (e) or (f), it is also reasonable for the trustee of a regulated debtor's estate to comply with a request to give information, provide a report or produce a document to the creditors if:
(a) the creditors agree to bear the cost of complying with the request; and
(b) if required to do so by the trustee--security for the cost of complying with the request is given to the trustee before the request is complied with.