Commonwealth Consolidated Acts

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Right of debtor to remaining property

  (1)   The debtor to whom a personal insolvency agreement relates is entitled to any property remaining after payment in full of:

  (a)   the costs, charges and expenses of the administration of the agreement; and

  (b)   all provable debts; and

  (c)   interest on interest - bearing provable debts.

  (2)   The Court may make an order directing the trustee not to pay or transfer the property, or a specified part of the property, referred to in subsection   (1), to the debtor if:

  (a)   an application is made for an order under this subsection by a person mentioned in subsection   (2A); and

  (b)   the Court is satisfied that proceedings are pending under a proceeds of crime law; and

  (c)   the Court is satisfied that property of the debtor may:

  (i)   become subject to a forfeiture order or interstate forfeiture order made in the proceedings; or

  (ii)   be required to satisfy a pecuniary penalty order or interstate pecuniary penalty order made in the proceedings.

  (2A)   For the purposes of paragraph   (2)(a), the application may be made by:

  (a)   in the case of pending proceedings in relation to a forfeiture order or a pecuniary penalty order under the Proceeds of Crime Act 2002 --the Commonwealth proceeds of crime authority that is, or that is proposed to be, the responsible authority for the application for the order under that Act; or

  (b)   in the case of pending proceedings under a corresponding law--a person who is entitled to apply for an interstate confiscation order under the corresponding law.

  (3)   The Court, on application made to it, may vary or revoke an order made under subsection   (2).

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