Commonwealth Consolidated Acts

BANKRUPTCY ACT 1966 - SECT 185EA

Processing of proposals by the Official Receiver

             (1)  If the Official Receiver is required by subsection 185E(5) to process a debt agreement proposal, the Official Receiver must write to each of the affected creditors who is known to the Official Receiver, asking each affected creditor to indicate whether the proposal should be accepted.

Writing to creditors to deal with a proposal

             (2)  When writing to each affected creditor under subsection (1) about a debt agreement proposal, the Official Receiver must:

                     (a)  provide the creditor with a copy of:

                              (i)  the debt agreement proposal; and

                             (ii)  the debtor's subsection 185C(2B) statement; and

                     (b)  ask the creditor to give a written statement setting out whether or not the debt agreement proposal should be accepted; and

                     (c)  inform the creditor of the person to whom the statement should be given and of the need to give the statement before the applicable deadline.    

             (3)  The paragraph (2)(b) statement must be in the approved form.