Commonwealth Numbered Acts

BANKRUPTCY AMENDMENT ACT 1980 No. 12 of 1980 - SECT 82

82. (1) Section 162 of the Principal Act is amended-

   (a)  by omitting sub-sections (2), (3) and (4) and substituting the
        following sub-sections:



"(2) Where the remuneration of the trustee is to be, in whole or in part, a
commission upon moneys received by the trustee, the trustee is entitled to
commission upon all moneys received by the trustee (other than moneys received
in the carrying on of a business of the bankrupt by him or under his
supervision) at a rate not exceeding the rate prescribed for the purposes of
this sub-section.



"(3) Where the trustee carries on a business of the bankrupt, or a business is
carried on by the bankrupt under the supervision of the trustee, the trustee
may be paid additional remuneration in the form either of a periodical payment
based on, or a commission at the rate prescribed for the purposes of this
sub-section on, the amount by which the estate is increased by reason of the
carrying on of that business by him or under his supervision.".



"(4) Where the remuneration of the trustee is not fixed by the creditors or
the committee of inspection, the Registrar may fix the remuneration.";

(b) by inserting in sub-section (5) "or of his own motion" after "on the
application of a creditor or the trustee"; and

   (c)  by omitting from sub-section (7) "a trustee who is an Official
        Receiver" and substituting "the Official Trustee".

(2) Notwithstanding the amendments of section 162 of the Principal Act made by
sub-section (1) of this section, the provisions of sub-sections 162 (2) and
(3) of the Principal Act continue to apply, after the commencement of this
section, in relation to the trustee of the estate of a bankrupt who became a
bankrupt before the commencement of this section.

(3) Sub-sections 162 (4) and (5) of the Principal Act as amended by
sub-section (1) of this section apply in relation to the trustee of the estate
of a bankrupt who became a bankrupt before, or becomes a bankrupt after the
commencement of this section.