Commonwealth Consolidated Acts

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Release of the Official Trustee

  (1)   Where the Official Trustee becomes the trustee of the estate of a bankrupt upon the release of a registered trustee under section   183 or 184, the Official Trustee does not become personally liable, by reason of its so becoming the trustee, in respect of an act done, default made or liability incurred by a prior trustee.

  (2)   The Official Trustee is released from being trustee of the estate of a bankrupt at the end of 7 years from the date on which the Official Receiver entered in the National Personal Insolvency Index the fact that the administration of the estate was finalised.

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