Commonwealth Numbered Acts

BANKRUPTCY AMENDMENT ACT 1980 No. 12 of 1980 - SECT 39

39. Section 74 of the Principal Act is amended by adding at the end thereof
the following sub-sections:



"(6) Where a bankruptcy is annulled under this section, all sales and
dispositions of property and payments duly made, and all acts done, by the
trustee or any person acting under the authority of the trustee or the Court
before the annulment shall be deemed to have been validly made or done but,
subject to sub-section (7), the property of the bankrupt still vested in the
trustee vests in such person as the Court appoints or, in default of such an
appointment, reverts to the bankrupt for all his estate or interest in it, on
such terms and subject to such conditions (if any) as the Court orders.



"(7) Where a law of the Commonwealth or of a State or Territory of the
Commonwealth requires the transmission of property to be registered, any such
property vested in the trustee at the time of the annulment of the bankruptcy,
notwithstanding that it vests in equity in such person as the Court appoints
or in the bankrupt, as the case may be, does not vest in that person or the
bankrupt at law until the requirements of that law have been complied with.".