Commonwealth Numbered Acts

BANKRUPTCY AMENDMENT ACT 1980 No. 12 of 1980 - SECT 53

53. (1) Section 112 of the Principal Act is amended-

(a) by omitting from sub-sections (1) and (2) "eight per centum per annum" and
substituting "12% per annum or such other rate as is prescribed for the
purposes of this section"; and

   (b)  by omitting from sub-section (2) "for valuable consideration in money
        or money's worth".

(2) Notwithstanding the amendments of section 112 of the Principal Act made by
sub-section (1) of this section, the provisions of that section of the
Principal Act continue to apply, after the commencement of this section, in
relation to the administration of the estate of a bankrupt who became a
bankrupt before the commencement of this section as if those amendments had
not been made.