Commonwealth Consolidated Acts

BANKRUPTCY ACT 1966 - SECT 189

             (1)  When an authority given by a debtor under section 188 becomes effective, the property of the debtor becomes subject to control under this Division.

          (1A)  The control continues until one of the following events happens:

                     (a)  the creditors resolve at a meeting called under this Part that the property cease to be subject to control;

                     (b)  the debtor and a trustee execute a personal insolvency agreement following a special resolution of creditors;

                     (d)  4 months pass since the authority under section 188 became effective;

                     (e)  the Court, under section 208, releases the property from control;

                      (f)  the debtor becomes a bankrupt;

                     (g)  the debtor dies.

          (1B)  The trustee must notify the Official Receiver in writing within 7 days after the trustee becomes aware that the control has ended because of an event specified in subsection (1A).

             (2)  A debtor whose property is subject to control under this Division:

                     (a)  shall not remove, dispose of or deal with any of his or her property except with the consent of the controlling trustee;

                     (b)  shall furnish to the controlling trustee such information with respect to any of the debtor's examinable affairs as the controlling trustee requires; and

                     (c)  shall comply with any direction given to him or her by the controlling trustee with respect to his or her property or affairs.

Penalty:  Imprisonment for 12 months.

             (3)  A disposal of, or dealing with, property by a debtor in contravention of subsection (2) is not invalid by reason only of that contravention.