Commonwealth Numbered Acts

BANKRUPTCY AMENDMENT ACT 1980 No. 12 of 1980 - SECT 114

114. Section 217 of the Principal Act is repealed and the following section
substituted:



"217. (1) Where a deed of assignment or deed of arrangement is not executed,
as required by section 216, by the registered trustee, or a registered
trustee, nominated in a resolution of a meeting of creditors under section 204
to be the trustee, or a trustee, as the case requires, of the deed, a meeting
of creditors called for the purpose, in accordance with the rules, by any
creditor or the debtor may, by resolution, nominate any other registered
trustee in the place of that registered trustee.



"(2) If the deed is not executed by the registered trustee so nominated within
7 days from the date on which the resolution was passed or within such further
period as the Registrar, on application made before the expiration of that
period of 7 days, allows, the Court may, upon application by a creditor,
nominate any registered trustee who is prepared to accept the office to be
trustee in the place of the registered trustee who did not execute the deed as
required by section 216.



"(3) A registered trustee so nominated by the Court shall execute the deed
within 7 days from the date on which the trustee was so nominated or within
such further period as the Court, on application made before the expiration of
that period of 7 days, allows.".