Commonwealth Numbered Acts

PROCEEDS OF CRIME ACT 1987 No. 87, 1987 - SECT 53

53. (1) Where, after the Official Trustee has been directed by an order under
subsection 49 (1) or (2) to pay an amount to the Commonwealth out of property
of a person, the Official Trustee is given notice in writing of the
presentation of a creditor's petition against the person, the Official
Trustee:

   (a)  shall refrain from taking action to sell the property under any
        direction to do so contained in an order under section 51; and

   (b)  shall not pay the Commonwealth any money pursuant to the direction to
        do so contained in the first-mentioned order; until the petition has
        been dealt with by a bankruptcy court, has been withdrawn or has
        lapsed.

(2) Where, after the Official Trustee has been directed by an order under
subsection 51 (1) to pay an amount to the Commonwealth out of property of a
person, the Official Trustee is given notice in writing of the reference to a
bankruptcy court of a debtor's petition against the person, the Official
Trustee:

   (a)  shall refrain from taking action to sell the property under any
        direction to do so contained in an order under section 51; and

   (b)  shall not pay the Commonwealth any money pursuant to the direction to
        do so contained in the first-mentioned order; until the petition has
        been dealt with by a bankruptcy court.

(3) Where:

   (a)  property of a person is in the custody and control of the Official
        Trustee in accordance with this Division; and

   (b)  the person becomes a bankrupt; the property shall be deemed to be in
        the possession, or under the control, of the Official Trustee as, or
        on behalf of, the trustee of the estate of the bankrupt, and not
        otherwise.
(4) In this section, "bankruptcy court" means a court having jurisdiction in
bankruptcy under the Bankruptcy Act.