Commonwealth Consolidated Acts

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Validity of acts if personal insolvency agreement set aside or terminated


  (1)   This section applies if a personal insolvency agreement is:

  (a)   set aside by the Court; or

  (b)   terminated.

Validity of acts

  (2)   All payments made, acts and things done and transactions entered into in good faith under, or for the purposes of, the agreement by:

  (a)   the trustee; or

  (b)   any other person;

before he or she had notice of the order of the Court or of the termination of the agreement, as the case may be, are valid and effectual and are not liable to be set aside by the trustee of a later personal insolvency agreement or in a subsequent bankruptcy.

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