Commonwealth Numbered Acts Commonwealth Numbered ActsPart 1 -- Amendments commencing 28 days after Royal Assent
1 Subparagraphs 41(1)(a)(ii) and (b)(ii)
Omit "$2,000", substitute "$5,000".
2 Paragraph 44(1)(a)
Omit "$2,000" (wherever occurring), substitute "$5,000".
3 Paragraphs 244(1)(a), (b) and (c)
Omit "$2,000", substitute "$5,000".
4 Application
(1) The amendment made by item 1 applies in relation to bankruptcy notices issued on or after the commencement of that item.
(2) The amendment made by item 2 applies in relation to creditors' petitions presented on or after the commencement of that item.
(3) The amendment made by item 3 applies in relation to petitions presented on or after the commencement of that item.
Part 2 -- Amendments commencing on a day to be fixed by Proclamation
5 Subsection 5(1) (paragraph (a) of the definition of stay period )
Omit "7", substitute "21".
6 Subsection 6A(1)
After "subsections 54(1) and (2)", insert "and subsection 54A(2)".
7 Section 54A
Before "Subject", insert "(1)".
8 At the end of section 54A
Add:
(2) A declaration presented by a debtor under this section must be accompanied by a statement of the debtor's affairs and a copy of that statement.
9 Section 54C
Before "Subject", insert "(1)".
10 At the end of section 54C
Add:
(2) If the Official Receiver accepts the declaration, the Official Receiver must give written notice of the acceptance of the declaration to each of the creditors disclosed in the debtor's statement of affairs.
12 After paragraph 267(1)(a)
Insert:
(aa) accompanies a declaration presented under section 54A; or
13 Application
The amendments made by items 5, 6, 8, 10 and 12 apply in relation to declarations presented under section 54A of the Bankruptcy Act 1966 on or after the commencement of those items.
[ Minister's second reading speech made in--
House of Representatives on 28 October 2009
Senate on 2 December 2009 ]
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(202/09) |