Commonwealth Numbered Acts

BANKRUPTCY AMENDMENT ACT 1987 No. 119 of 1987 - SECT 25

25. (1) Section 64 of the Principal Act is repealed and the following section
is substituted: Meetings of creditors

"64. (1) The trustee shall convene a meeting of the creditors of a bankrupt:

   (a)  whenever the creditors so direct by resolution;

   (b)  whenever so requested in writing by at least one-fourth in value of
        the creditors; and

   (c)  whenever so requested in writing by less than one-fourth in value of
        the creditors, being a creditor who has, or creditors who together
        have, lodged with the trustee sufficient security for the cost of
        holding the meeting.

"(2) The trustee may convene at any time a meeting of the creditors of a
bankrupt.".

(2) The section inserted in the Principal Act by subsection (1) applies as
provided in subsection 106 (1) of this Act.

(3) Notwithstanding subsection (1), section 64 of the Principal Act continues
to apply in relation to a bankrupt in respect of a bankruptcy if the date of
the bankruptcy occurred before the commencement of this section.