Commonwealth Numbered Regulations

1996 No. 263 BANKRUPTCY REGULATIONS - REG 4.07

4.07. (1) Where:

   (a)  the Court makes a direction or other order under subsection 50 (1) of
        the Act; and

   (b)  the amount deposited, in accordance with the direction or other order
        of the Court, with the Official Trustee or a registered trustee is
        insufficient to meet the fees and expenses incurred by the Official
        Trustee or registered trustee:

        (i)    as a result of the direction or other order; or

        (ii)   in carrying out an examination of a person as a result of the
               issue of a summons under subsection 50 (2) of the Act; the
               Official Trustee or registered trustee may:

   (c)  request the creditor who made the application under subsection 50 (1)
        of the Act; or

   (d)  apply to the Court for an order directing that creditor; to deposit
        with the Official Trustee or the registered trustee a specified
        additional sum.

(2) Where the Court, under section 50 of the Act, directs the Official Trustee
or a registered trustee to take control of the property of a debtor, and
subsequently any of the following events occurs:

   (a)  the debtor enters into an assignment, arrangement or composition under
        Part X of the Act, or the debtor's estate is administered under Part
        XI of the Act, and the Court authorises the Official Trustee or the
        registered trustee to transfer the property to some other person;

   (b)  a sequestration order is made against the debtor;

   (c)  the creditor's petition against the debtor is dismissed;

   (d)  a debtor's petition relating to the debtor is accepted by the Official
        Receiver;

   (e)  a proposal by the debtor relating to a debt agreement is accepted
        under section 185B of the Act; the creditor is entitled to a refund of
        the amount deposited by him or her in accordance with the direction or
        other order of the Court to meet the fees and expenses of the Official
        Trustee or the registered trustee incurred:

   (f)  as a result of the direction; or

   (g)  in carrying out an examination of a person as the result of the issue
        of a summons; less the amount of any fees or expenses so incurred.