Commonwealth Numbered Acts

BANKRUPTCY AMENDMENT ACT 1980 No. 12 of 1980 - SECT 65

65. Section 133 of the Principal Act is amended-

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



"; or (b) property (including land) that is unsaleable or is not readily
saleable,";

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



"(1A) Subject to this section, the trustee may at any time, by writing signed
by him, disclaim any contract that forms part of the property of the bankrupt
whether or not the trustee has endeavoured to assign the property or exercised
any rights in relation to it.";

   (c)  by omitting from sub-section (2) "The disclaimer" and sustituting "A
        disclaimer under sub-section (1) or (1A)";

   (d)  by omitting sub-section (4) and substituting the following sub-
        sections:



"(4) A trustee is not entitled to disclaim a lease without the leave of the
Court unless-

   (a)  the trustee has given to the lessor and, if the bankrupt has sub-let
        the whole or any part of the leased property or has mortgaged the
        lease, to each sub-lessee or mortagagee , 28 days' notice of his
        intention to disclaim the lease; and

   (b)  no person to whom the trustee has given such a notice has, within 28
        days after it was given to the person, by notice given to the trustee,
        required the trustee to apply to the Court for leave to disclaim the
        lease.



"(4A) A notice under paragraph (4) (a) or (b) shall be in accordance with the
prescribed form.



"(4B) A notice under paragraph (4) (a) or (b) sent by post as certified mail
(postage being prepaid) shall be deemed to have been given to the person to
whom the notice is addressed and shall be deemed to have been given to that
person at the time at which it would have been delivered in the ordinary
course of post unless it is shown that the person did not receive it at that
time.";

   (e)  by inserting after sub-section (5) the following sub-sections:



"(5A) A trustee is not entitled to disclaim a contract (other than an
unprofitable contract) without the leave of the Court.



"(5B) The Court may, in relation to an application for leave to disclaim a
contract under this section-

   (a)  impose such terms as a condition of granting the leave; and

   (b)  make such orders with respect to matters arising out of the contract,
        as the Court considers just and equitable."; and

   (f)  by inserting after sub-section (6) the following sub-sections:



"(6A) An application under sub-section (6) shall be in accordance with the
prescribed form.



"(6B) An application under sub-section (6) sent to the trustee by post as
certified mail (postage being prepaid) shall be deemed to have been made to
the trustee and shall be deemed to have been received by the trustee at the
time at which it would have been delivered in the ordinary course of post
unless it is shown that the trustee did not receive it at that time.".