Commonwealth Consolidated Acts

BANKRUPTCY ACT 1966 - SECT 139ZIC

             (1)  The trustee of a bankrupt's estate may, by written notice given to the bankrupt, determine that the supervised account regime applies to the bankrupt.

             (2)  The trustee must not make a determination under subsection (1) in relation to the bankrupt unless, at the time the determination is made:

                     (a)  the bankrupt is liable to pay a contribution; and

                     (b)  either:

                              (i)  if the trustee has made a determination under section 139ZG permitting the contribution to be paid by instalments--the bankrupt has not paid the whole of an instalment at or before the time when it became payable; or

                             (ii)  if the trustee has made a determination under section 139ZG requiring the bankrupt to pay the contribution at a specified time--the bankrupt has not paid the whole of the contribution at or before the time when it became payable.

             (3)  A notice under subsection (1) must be in the approved form.

             (4)  A notice under subsection (1) must be accompanied by:

                     (a)  a supervised account notice relating to the bankrupt concerned; and

                     (b)  a statement setting out:

                              (i)  the effect of sections 139ZIE to 139ZIT; and

                             (ii)  such other information (if any) as is specified in the regulations.