BANKRUPTCY ACT 1966 - SECT 54H Duties of person entitled to deduct money owing to declared debtor

BANKRUPTCY ACT 1966 - SECT 54H

  (1)   Where, during the stay period in relation to a declaration of intention presented by a debtor, a copy of the declaration signed by the Official Receiver who accepted it is produced to a person who is entitled under a law of the Commonwealth, of a State or of a Territory:

  (a)   to retain or deduct money from money payable or owing, or to become payable or owing, to the debtor; and

  (b)   to apply the retained or deducted money toward discharging a frozen debt owed by the debtor to any person;

subsections   (2) and (3) apply.

  (2)   The person shall, throughout the remainder of that period:

  (a)   refrain from so retaining or deducting money; and

  (b)   refrain from paying to a person (other than the debtor), or otherwise applying, money that was so retained or deducted before the signed copy was produced to the person.

  (3)   Nothing in this section affects a person's liability to pay money to the debtor.