Commonwealth Consolidated Acts

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Report and declaration by controlling trustee

  (1)   The controlling trustee must prepare a report:

  (a)   summarising and commenting on the information about the debtor's affairs that is available to the controlling trustee; and

  (b)   stating whether the controlling trustee believes that the creditors' interests would be better served:

  (i)   by accepting the debtor's proposal for dealing with his or her affairs under this Part; or

  (ii)   by the bankruptcy of the debtor; and

  (c)   naming each creditor who was identified as a related entity of the debtor in the debtor's statement of affairs.

  (2)   The trustee must:

  (a)   give a copy of the report to the Official Receiver and to each of the creditors; and

  (b)   keep a copy of the report.

Declaration of relationships

  (3)   The controlling trustee must make a written declaration stating whether the debtor is a related entity of:

  (a)   the controlling trustee; or

  (b)   a related entity of the controlling trustee.

  (4)   The controlling trustee must:

  (a)   give a copy of the declaration to the Official Receiver; and

  (b)   give a copy of the declaration to each of the creditors at the same time as the controlling trustee gives a copy of the subsection   (1) report to each creditor; and

  (c)   keep a copy of the declaration.

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