Commonwealth Numbered Regulations

1992 No. 194 BANKRUPTCY RULES (AMENDMENT) - RULE 24

  24.1   Paragraph 90 (a):
Omit the paragraph.
  24.2   Paragraph 90 (c):
Omit the paragraph, substitute:

"(c) section 74 is omitted and the following section substituted:
  '74.  (1)   The order for administration of the estate being administered
under Part XI is annulled on the day on which a special resolution is passed
under subsection 73 (4).
  '(2)   The trustee of the estate must give to the Registrar, as soon as
practicable after that day, a certificate setting out:

   (a)  the name of the estate; and

   (b)  the number of the administration; and

   (c)  the date of the annulment of the order for administration of the
        estate.
  '(3)   The Registrar must enter in his or her records:


   (a)  the fact that the order for administration of the estate has been
        annulled; and

   (b)  the date of the annulment.';".
  24.3   Paragraph 90 (d):
Omit the paragraph, substitute:

"(c) section 75 of the Act is modified by:

        (i)    omitting subsections (2), (6), (7) and (8); and

        (ii)   omitting paragraph (4) (b) and substituting:
'(b) it is made to appear to the Court that:

        (i)    the creditors; or

        (ii)   the legal personal representative; or

        (iii)  the beneficiary who proposed the composition or scheme of
               arrangement; will suffer injustice or undue delay if the
               composition or scheme of arrangement proceeds; or

   (c)  it is made to appear to the Court that the approval of the creditors
        was obtained by a misrepresentation by the legal personal
        representative; or

   (d)  it is made to appear to the Court that it is desirable that the
        deceased debtor's:

        (i)    affairs be investigated; or

        (ii)   estate be administered; under this Act; or

   (e)  it is likely that the creditors will receive a greater dividend if the
        estate is again administered under this Act;';".