Commonwealth Numbered Regulations

1981 No. 305 BANKRUPTCY RULES (AMENDMENT) - REG 7

7. After rule 24 of the Bankruptcy Rules the following rule is inserted:
Debtor's petition to be accompanied by consent of registered trustee

"24AA. At the time when a debtor's petition under section 55, 56 or 57 of the
Act is filed, the debtor shall-

   (a)  where a registered trustee has, under sub-section 156A (1) of the Act,
        consented to act as the trustee of-

        (i)    in the case of a petition presented under section 55 of the
               Act-the estate of the debtor; and

        (ii)   in the case of a petition presented under section 56 or 57 of
               the Act-the joint and separate estates of the members of the
               partnership who would become bankrupts upon the acceptance of
               the petition or of the petitioning debtors, as the case
               requires,
file a copy of the trustee's consent; or

   (b)  if paragraph (a) does not apply-file an affidavit by the petitioning
        debtor or, in the case of a petition presented under section 56 or 57
        of the Act, each of the petitioning partners or debtors, as the case
        requires, stating that-

        (i)    the petitioning debtor or partner, as the case requires,
               believes that the value of the property-

                (A)  in the case of a petition presented under section 55 of
                     the Act-of the debtor;

                (B)  in the case of a petition presented under section 56 of
                     the Act-comprising the joint estate of the members of the
                     partnership who would become bankrupts upon acceptance of
                     the petition; or

                (C)  in the case of a petition presented under section 57 of
                     the Act-comprising the joint estate of the petitioning
                     debtors,
that would be divisible amongst the creditors by virtue of section 116 of the
Act if the petition were to be accepted (but not including any property
acquired by or devolving on the debtor, those members of the partnership or
the petitioning debtors jointly, as the case requires, after the acceptance of
the petition that would be so divisible) is less than $10,000 or, if another
amount is for the time being prescribed for the purposes of sub-paragraph 55
(4A) (b) (i), 56 (7A) (b) (i) or 57 (5A) (b) (i) of the Act, that other
amount, and stating the grounds on which he holds that belief; or

        (ii)   he has, in all the circumstances of the case, taken all
               reasonable steps to obtain from a registered trustee a consent
               under sub-section 156A (1) in respect of his estate or, in the
               case of a petition presented under section 56 or 57 of the Act,
               the joint and separate estates of those members of the
               partnership or of the petitioning debtors, as the case
               requires, but has been unable to obtain any such consent.".