BANKRUPTCY AMENDMENT ACT 1980

Table of Provisions

 
1 Short title, &c.
 
2 Commencement
 
3 Interpretation
 
4 Application of Act
 
5 Repeal of section 8 and substitution of new section-
           8 Act to bind the Crown
 
6 Laws of States and Territories not affected by Act
 
7 Heading to Division 1 of Part II
           Division 1 General
 
8 Functions of Inspector-General
 
9 Registrars and Deputy Registrars
 
10 Insertion of new section-
           14A Stamps of Registrars
 
11 Official Receivers
 
12 Repeal of sections 17 and 18 and substitution of new sections-
           17 Acting Inspector-General and acting Official Receivers
           17A Acting Registrars and acting Deputy Registrars
           17B Arrangements for services of State and Northern Territory Magistrates
           18 The Official Trustee in Bankruptcy
           18A Liability of the Official Trustee
 
13 Duties, &c., of Official Receiver
 
14 Insertion of new sections-
           19A Liability of Inspector-General, Registrars, Deputy Registrars,
           Official Receivers, &c.
           19B Officers to act in aid of each other
 
15 Records, returns and bank accounts
 
16 Insertion of new Division-
           Division 2 Common Investment Fund
           20A Interpretation
           20B The Common Investment Fund
           20C Investment Board
           20D Investment of moneys in Common Fund
           20E Borrowing for the Common Fund
           20F Moneys in Common Fund not held on account of particular estates, &c.
           20G Common Investment Fund Equalization Account
           20H Payment of moneys into and out of Equalization Account
           20J Interest on moneys in Common Fund payable only in certain circumstances
 
17 Seal of Federal Court of Bankruptcy
 
18 Courts to act in aid of each other
 
19 Exercise of jurisdiction
 
20 Adjournment, amendment of process and extension and abridgment of times
 
21 Repeal of section 35 and substitution of new section-
           35 Transfer of proceedings
 
22 Power of the Court to rescind orders, &c.
 
23 Acts of bankruptcy
 
24 Bankruptcy notices
 
25 Jurisdiction to make sequestration orders
 
26 Conditions on which creditor may petition
 
27 Repeal of section 48
           28. Court may direct the Official Trustee to take control of property before
           sequestration
 
29 Proceedings and order on creditor's petition
 
30 Consolidation of proceedings
 
31 Bankrupt's statement of affairs
 
32 Debtor's petition
 
33 Repeal of sections 56 and 57 and substitution of new sections-
           56 Debtor's petition against partnership
           57 Debtor's petition by joint debtors who are not partners
           57A Time at which person becomes bankrupt on debtor's petition
 
34 Vesting of property upon bankruptcy
 
35 Repeal of section 59 and substitution of new section-
           59 Second or subsequent bankruptcy
 
36 Stay of legal proceedings
 
37 Repeal of section 64 and substitution of new section-
           64 First meeting of creditors
 
38 Repeal of section 69 and substitution of new section-
           69 Public examination of bankrupt
 
39 Approval by the Court
 
40 Arrest of debtor or bankrupt
 
41 Repeal of section 81 and substitution of new section-
           81 Discovery of bankrupt's property
 
42 Debts provable in bankruptcy
 
43 Manner of proving debts
 
44 Proof by employees
 
45 Application to the Court where creditor or bankrupt considers proof wrongly admitted
 
46 Inspection of proofs by creditors, &c.
 
47 Admission or rejection of proofs
 
48 Appeal against decision of trustee in respect of proof
 
49 Costs of appeal
 
50 Trustee may administer oaths, &c.
 
51 Repeal of section 109 and substitution of new section-
           109 Priority payments
 
52 Postponement of spouse's claims
 
53 Interest on debts
 
54 Property divisible amongst creditors
 
55 Repeal of sections 118 and 119 and substitution of new sections-
           118 Execution by creditor against property of debtor who becomes a bankrupt , &c.
           119 Duties of sheriff after receiving notice of presentation of petition, &c.
           119A Duties of sheriff after receiving notice of bankruptcy, &c.
 
56 Avoidance of voluntary and marriage settlements
 
57 Avoidance of preferences
 
58 Protection of certain transactions against relation back, &c.
 
59 Protection of certain payments to bankrupt, &c.
 
60 Dealings with undischarged bankrupt in respect of after-acquired property
 
61 Limitation of time for making claims by trustee, &c.
 
62 Trustee to take possession of property of bankrupt
 
63 Income of bankrupt
 
64 Vesting and transfer of property
 
65 Disclaimer of onerous property
 
66 Powers exercisable at discretion of trustee
 
67 Powers exercisable by trustee with permission
 
68 Protection of trustee from personal liability in certain cases
 
69 Declaration and distribution of dividends
 
70 Repeal of section 145 and substitution of new section-
           145 Final dividend
 
71 Repeal of section 147 and substitution of new section-
           147 No action for dividend
 
72 Repeal of section 149 and substitution of new section-
           149 Discharge of bankrupt by operation of law
 
73 Discharge by the Court
 
74 Effect of fraudulent settlements on discharge
 
75 Effect of order of discharge
 
76 Power to annul bankruptcy
 
77 Registration of persons as trustees
 
78 Appointment of trustees
 
79 Appointment of more than one trustee, &c.
 
80 Vacancy in office of trustee
 
81 Official Trustee to be trustee when there is not other trustee
 
82 Remuneration of trustee
 
83 Repeal of section 163 and substitution of new section-
           163 Remuneration of the Official Trustee
 
84 Two or more trustees acting in succession
 
85 Taxation of costs
 
86 Trustee to pay moneys into bank account
 
87 Trustee to give Official Receiver and bankrupt information, &c.
 
88 Investment of surplus funds
 
89 Trustee's books when trading
 
90 Trustee's accounts and audit
 
91 Repeal of section 176 and substitution of new section-
           176 Court may order trustee to make good loss sustained by negligence, &c.
 
92 Control of trustees by the Court
 
93 Registration of trustee
 
94 Removal of trustee
 
95 Bankruptcy of trustee, &c.
 
96 Release of registered trustee by the Court
 
97 Release of registered trustee by operation of law after 7 years
 
98 Insertion of new section-
           184A Release of the Official Trustee
 
99 Repeal of Part IX
 
100 Interpretation
 
101 Insertion of new section-
           187A Application of Part to joint debtors
 
102 Debtor may authorize trustee or solicitor to call meeting of creditors,
           &c.
 
103 Trustee's and solicitor's duties and powers
 
104 Repeal of sections 192 and 193 and substitution of new sections-
           192 Death of trustee to whom authority is given, &c.
           193 Remuneration of controlling trustee
 
105 Calling of meeting
 
106 Debtor to attend meeting
 
107 Quorum
 
108 Minutes of meeting
 
109 Repeal of section 205 and substitution of new sections-
           205 Duties of sheriff after receiving notice of signing of authority under section 188, &c.
           205A Duties of sheriff after receiving notice of execution of deed, &c.
 
110 Controlling trustee's bank accounts, &c.
 
111 Controlling trustee's accounts
 
112 Repeal of section 212 and substitution of new section-
           212 Court may order controlling trustee to make good loss sustained by negligence, &c.
           212A Appeal to the Court against controlling trustee's decision, &c.
           212B Control of controlling trustees by the Court
 
113 Form of deeds, &c.
 
114 Repeal of section 217 and substitution of new section-
           217 Failure of trustee to execute deed
 
115 Notice of execution of deed, acceptance of composition, &c.
 
116 Filling of vacancy in office of trustee after execution of deed, &c.
 
117 Power of the Court to declare deed or composition void
 
118 Calling of meetings other than the first meeting
 
119 Insertion of new section-
           223A Application of provisions of this Part relating to first meeting to other meetings under this Part
 
120 Validity of acts where deed or composition declared void or terminated, &c.
 
121 Insertion of new section-
           224A Notice that deed or composition declared void or terminated
 
122 Evidence of deed, resolution, &c.
 
123 Repeal of section 226 and substitution of new section-
           226 Creditor may inspect deed, &c.
 
124 Deed of assignment to bind all creditors
 
125 Application of general provisions of Act to deeds of assignment
 
126 Certificate relating to release
 
127 Deed of arrangement to bind all creditors
 
128 Termination of deed of arrangement
 
129 Court may terminate deed
 
130 Application of general provisions of Act to deeds of arrangement
 
131 Insertion of new section-
           237A Certificate by trustee that provisions of deeds have been carried out
 
132 Composition to bind all creditors
 
133 Court may terminate composition
 
134 Application of general provisions of Act to compositions
 
135 Insertion of new section-
           243A Certificate by trustee that terms of composition have been carried out
 
136 Administration of estates under this Part upon petition by creditor
 
137 Filing of statement of deceased debtor's affairs by legal personal representative, &c.
 
138 Insertion of new section-
           247A Commencement of administration under Part
 
139 Application of general provisions of Act in relation to administration under Part
 
140 Insertion of new section-
           248A Consolidation of proceedings
 
141 Vesting of property on making of order
 
142 Repeal of section 250 and substitution of new sections-
           249A Charge over property owned in joint tenancy
           250 Effect of order under Part in case of deceased person who was bankrupt
 
143 Insertion of new section-
           252A Power to annul order of administration under Part
 
144 Repeal of section 253B and substitution of new section-
           253B Law of State or Territory may be proclaimed
 
145 Registrar to notify relevant authority of pending proceedings
 
146 Relevant authority entitled to be heard on application for leave for sub-section 55 (6A), 56 (11) and 57 (8)
 
147 Payment of unclaimed moneys into Consolidated Revenue Fund
 
148 Repeal of section 255 and substitution of new section-
           255 Transcript of evidence, &c.
 
149 Evidence of matters stated in notices published in Gazette
 
150 Evidence of proceedings at meetings of creditors or committee of
           inspection
 
151 Evidence of bankruptcy documents
 
152 Repeal of sections 260 and 261 and substitution of new section-
           260 Evidence as to bankruptcy and appointment of trustee, &c.
 
153 Swearing of affidavits
 
154 Insertion of new section-
           263B False proof of debts
 
155 Insertion of new sections-
           264A Failure of person to attend before the Court, &c.
           264B Arrest of person failing to attend before the Court, &c.
           264C Refusal to be sworn or give evidence, &c.
           264D Prevarication or evasion in the course of examination under section 50, 69 or 81
           264E Offences in relation to Registrar or magistrate conducting examination under section 50, 69 or 81
           156. Bankrupt obtaining credit without disclosing his bankruptcy, &c.
 
157 Repeal of section 272 and substitution of new section-
           272 Leaving Australia with intent to defeat creditors, &c.
 
158 Repeal of section 274
           159. Bankrupts under repealed Act to continue to be bankrupts under this Act
 
160 Orders, &c., under repealed Act to continue to have force and effect
 
161 Repeal of sections 283 and 286
 
162 Continuance of certain provisions of repealed Act in respect of existing bankruptcies
 
163 Application of Part XI of Bankruptcy Act 1924-1965 to existing deeds of assignment, &c.
 
164 Application of Part XII of Bankruptcy Act 1924-1965 to existing deeds of arrangement
 
165 Repeal of section 294
 
166 Repeal of section 305 and substitution of new section-
           305 Payment of expenses by Commonwealth
 
167 Insertion of new sections-
           306A Protection of Registrars, magistrates, &c., in relation to examinations under section 50, 69 or 81
           306B Protection in respect of Official Receivers' reports
           306C Protection in respect of trustees' reports
 
168 Service of notices, &c.
 
169 Publication of notice of making of sequestration order, discharge, &c.
 
170 Destruction of old accounts and records
 
171 Repeal of section 313 and substitution of new section-
           313 Audit of accounts and records of the Registrars, the Official Trustee and the Official Receivers
 
172 Rules and regulations

 
173  Repeal of Third and Fourth Schedules
 
174 Formal and other minor amendments
 
175 Transitional provision
 
176 Court may resolve difficulties

     
SCHEDULE - FORMAL AND OTHER MINOR AMENDMENTS