Commonwealth Numbered Acts

BANKRUPTCY AMENDMENT ACT 1980 No. 12 of 1980 - SECT 71

71. (1) Section 147 of the Principal Act is repealed and the following section
substituted:



"147. (1) An action for a dividend does not lie against the trustee of the
estate of a bankrupt but, if the trustee neglects or refuses to pay a dividend
to a creditor, the Court, on the application of the creditor, may, if it
thinks fit, order the trustee to pay the dividend and may also order that the
trustee pay interest on the dividend for the time that it is withheld and the
costs of the application.



"(2) Where the Court orders the trustee of the estate of a bankrupt to pay
interest on a dividend or to pay the costs of an application under sub-section
(1), the trustee is personally liable for, and is not entitled to be
reimbursed by the estate in respect of, the payment of that interest or those
costs.".

(2) Notwithstanding the repeal of section 147 of the Principal Act effected 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 hearing and determination of an application made to the Court
under that section of the Principal Act before the commencement of this
section as if that section of the Principal Act had not been repealed.