Commonwealth Numbered Acts

BANKRUPTCY AMENDMENT ACT 1987 No. 119 of 1987 - SECT 22

22. (1) Section 57 of the Principal Act is amended:

   (a)  by inserting in subsection (2) "shall be in accordance with the
prescribed form and" after " section";

   (b)  by omitting from paragraphs (2) (a) and (b) ", verified by affidavit";
        and

   (c)  by omitting subsections (3), (4) and (5) and substituting the
        following subsections:

"(3) Where a petition is presented under this section, the Registrar shall:

   (a)  if it appears to the Registrar that the petition, and each statement
        of affairs accompanying the petition, comply with subsection
        (2)-accept the petition; or

   (b)  in any other case-reject the petition or refer it to the Court for a
        direction to accept or reject it.

"(4) The Registrar shall comply with a direction given on a reference under
subsection (3).

"(5) Where the Registrar accepts a petition presented under this section:

   (a)  he or she shall endorse the petition accordingly; and

   (b)  upon the Registrar endorsing the petition, each of the petitioning
        debtors becomes a bankrupt by force of this section and by virtue of
        presentation of the petition.".

(2) Notwithstanding subsection (1), section 57 of the Principal Act continues
to apply in relation to a petition presented under that section before the
commencement of this section.