Commonwealth Numbered Acts

BANKRUPTCY AMENDMENT ACT 1987 No. 119 of 1987 - SECT 71

71. (1) Section 200 of the Principal Act is amended:

   (a)  by omitting from subsection (2) "A" and substituting "Subject to
        subsection (3A), a"; and

   (b)  by inserting after subsection (3) the following subsections:

"(3A) A person is not entitled to vote as proxy of a creditor on a proposed
resolution under section 204 unless the instrument by which the person is
appointed authorises the person to vote in a specified manner on each of the
following kinds of resolution under that section:

   (a)  a resolution that the debtor's property be no longer subject to
        control under this Division;

   (b)  a resolution requiring the debtor to execute a deed of assignment;

   (c)  a resolution requiring the debtor to execute a deed of arrangement;

   (d)  a resolution accepting a composition;

   (e)  a resolution requiring the debtor to present a debtor's petition
        within 7 days after the passing of the resolution;
and the person votes on the proposed resolution in accordance with the
instrument.

"(3B) For the purposes of subsection (3A), an instrument authorising a person
to abstain from voting on a particular kind of resolution shall be taken to
authorise the person to vote in a specified manner on that kind of
resolution.".

(2) The amendments made by subsection (1) apply as provided in subsection  106
(2).