Commonwealth Numbered Acts

BANKRUPTCY AMENDMENT ACT 1980 No. 12 of 1980 - SECT 57

57. (1) Section 122 of the Principal Act is amended-

   (a)  by omitting paragraph (b) of sub-section (1) and substituting the
        following paragraph:



"(b) on or after the day on which the petition on which, or by virtue of
presentation of which, the debtor becomes a bankrupt is presented and before
the day on which the debtor becomes a bankrupt,";

   (b)  by inserting after sub-section (1) the following sub-section:



"(1A) Sub-section (1) applies in relation to a conveyance or transfer of
property, a charge on property or a payment made, or an obligation incurred,
by the debtor in favour of a creditor-

   (a)  whether or not the liability of the debtor to the creditor is his
        separate liability or is a liability with another person or other
        persons jointly; and

   (b)  whether or not-

        (i)    the property conveyed, transferred or charged is his own
               property or is the property of the debtor and of another person
               or other persons;

        (ii)   the payment is made of his own moneys or out of moneys of the
               debtor and another person or other persons; or

        (iii)  the obligation is incurred by the debtor on his own account
               only or on account of himself and another person or other
               persons, as the case requires.";

   (c)  by omitting from paragraph (a) of sub-section (2) "or";

   (d)  by omitting from paragraph (b) of sub-section (2) "bankrupt" and
        substituting "debtor";

   (e)  by adding at the end of sub-section (2) the following word and
        paragraph:



"; or (c) a conveyance, transfer, charge, payment or oblgation of the debtor
executed, made or incurred under or in pursuance of a maintenance agreement or
maintenance order."; and

   (f)  by inserting after sub-section (4) the following sub-section:



"(4A) A reference in this section (other than sub-section (5)) to a creditor
of the debtor shall be read as including a reference to a person who would be
a creditor of the debtor in relation to a contract, agreement, transaction or
other dealing if the contract, agreement, transaction or other dealing were
not, in whole or in part, void or unenforceable, or had not been voided in
whole or in part, by or under a law of the Commonwealth or of a State or
Territory of the Commonwealth.".

(2) Notwithstanding the amendments of section 122 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 a bankrupt, and the estate of a bankrupt, who became a bankrupt
before the commencement of this section as if those amendments had not been
made.