Commonwealth Numbered Acts

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BANKRUPTCY AMENDMENT ACT 1987 No. 119 of 1987 - SECT 73

73. (1) Section 212 of the Principal Act is repealed and the following section
is substituted: Court may order controlling trustee to make good loss caused
by breach of duty

"212. (1) Where, on application by the Inspector-General or by a creditor of
the debtor, the Court is satisfied that a person who is or has been a
controlling trustee in relation to a debtor has been guilty (whether before or
after the commencement of this section) of breach of duty in relation to the
debtor's property or affairs, subsection (2) applies.

"(2) The Court may make any one or more of the following orders:

   (a)  an order directing the person to make good any loss that has been
        sustained because of the person's breach of duty;

   (b)  if the person is registered under section 155-an order suspending for
        a specified period, or cancelling, the person's registration under
        that section;

   (c)  any other order that the Court considers just and equitable in the
        circumstances.".

(2) Notwithstanding subsection (1), section 212 of the Principal Act continues
to apply in relation to an application made under that section before the
commencement of this section. 


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