Commonwealth Consolidated Acts

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BANKRUPTCY ACT 1966 - SECT 218

Notice of execution of personal insolvency agreement

  (1)   The trustee of a personal insolvency agreement entered into in pursuance of this Part   shall:

  (a)   notify each creditor of the debtor as soon as practicable after the debtor and the trustee have executed the agreement; and

  (b)   within 2 days after the execution of the agreement by the debtor and the trustee--file a copy of the agreement in the office of the Official Receiver.

  (2)   The trustee commits an offence if the trustee fails to comply with a requirement under paragraph   (1)(b).

Penalty:   5 penalty units.

Note:   See also section   277B (about infringement notices).

  (2A)   Subsection   (2) is an offence of strict liability.

Note:   For strict liability, see section   6.1 of the Criminal Code .

  (3)   A trustee must notify creditors under paragraph   (1)(a) in the way prescribed by the regulations.



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