Commonwealth Numbered Acts

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BANKRUPTCY AMENDMENT ACT 1987 No. 119 of 1987 - SECT 50

Powers exercisable by the trustee with permission
50. (1) Section 135 of the Principal Act is amended:

   (a)  by omitting from subsection (1) "general meeting or" and substituting
        "meeting of the creditors, with the permission";
(b) by inserting in paragraphs (1) (a) and (d) "net" before "value";

   (c)  by omitting paragraph (1) (k) and substituting the following

"(k) after the end of 2 months beginning on the date of the bankruptcy:

        (i)    employ the bankrupt as mentioned in subparagraph 134 (1) (m)
               (i), (ii) or (iii); and

        (ii)   in consideration of the bankrupt's services, make such
               allowance to the bankrupt out of the estate as the trustee
               considers reasonable.".

(2) The amendments made by subsection (1) apply in relation to a bankrupt in
respect of a bankruptcy whenever the date of the bankruptcy occurred. 

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