Bankruptcy Act - Australia

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furnish a copy of the statement to the trustee.

      Penalty: 25 penalty units.

      (2) Where a sequestration order is made against 2 or more joint debtors (whether partners or not), each of those persons shall (in addition to complying with subsection (1) in relation to his or her affairs), within 14 days from the day on which he or she is notified of the bankruptcy, and either on his or her own account or jointly with another or others of those debtors:

      (a) make out and file in the office of the Official Receiver a statement of the joint affairs of those persons; and

      (b) furnish a copy of the statement to the trustee.

      Penalty: 5 penalty units.

      (3) Subsections (1) and (2) are offences of strict liability.

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

      (4) A person who states in writing that he or she is a creditor of a bankrupt against whom a sequestration order has been made, or a creditor of 2 or more bankrupts against whom the one sequestration order has been made, may without fee, and any other person may on payment of the fee determined by the Minister by legislative instrument, inspect, personally or by an agent, the statement of affairs filed by the bankrupt or the statements of affairs filed by the bankrupts, as the case may be, and may obtain a copy of, or take extracts from, the statement or statements.

      (5) A bankrupt against whom a sequestration order has been made may, without fee and either personally or by an agent:

      (a) inspect the bankrupt’s statement of affairs; or

      (b) obtain a copy of, or take extracts from, the bankrupt’s statement of affairs.

      (6) If the approved form for a statement of affairs indicates that particular information in the statement will not be made available to the public, then the Official Receiver must ensure that the information is not made available under this section to any person (other than the bankrupt or an agent of the bankrupt).

      (7) The Official Receiver may refuse to allow a person access under this section to particular information in a bankrupt’s statement of affairs on the ground that access to that information would jeopardise, or be likely to jeopardise, the safety of any person.

      Division 2A Declaration of intention to present debtor’s petition

      54A Presentation of declaration

      (1) Subject to section 54B, a debtor may present to the Official Receiver a declaration, in the approved form, of the debtor’s intention to present a debtor’s petition.

      (2) A declaration presented by a debtor under this section must be accompanied by a statement of the debtor’s affairs and a copy of that statement.

      54B When debtor disqualified from presenting declaration

      A debtor is not entitled to present a declaration under section 54A:

      (a) when the debtor is not entitled, except with the leave of the Court, to present a petition under section 55;

      (b) after a creditor’s petition presented against the debtor is served on the debtor and before:

      (i) a sequestration order is made on the petition;

      (ii) the petition is withdrawn or dismissed; or

      (iii) the petition lapses under subsection 52(4);

      (c) after a debtor’s petition is presented against the debtor and before the petition is accepted or rejected;

      (d) while the debtor’s property is subject to control under Division 2 of Part X;

      (e) within 6 months after the debtor signs an authority under section 188; or

      (f) within 12 months after a declaration presented by the debtor under section 54A is accepted under section 54C.

      54C Acceptance or rejection of declaration

      (1) Subject to section 54D, where a debtor presents a declaration under section 54A, the Official Receiver shall:

      (a) if it appears to the Official Receiver that the debtor is entitled to present a declaration under section 54A and that the declaration presented is in accordance with the approved form:

      (i) accept the declaration and endorse it accordingly; and

      (ii) forthwith sign a copy of the declaration; or

      (b) in any other case — reject the declaration.

      (2) If the Official Receiver accepts the declaration, the Official Receiver must give written notice of the acceptance of the declaration to each of the creditors disclosed in the debtor’s statement of affairs.

      54D Official Receiver to give information to debtor

      (1) Before accepting a declaration presented by a debtor under section 54A, the Official Receiver must give the debtor the information prescribed by the regulations.

      (2) A contravention of subsection (1) does not affect the validity of the Official Receiver’s acceptance under section 54C of a declaration presented under section 54A.

      54E Enforcement suspended during stay period

      (1) Where, during the stay period in relation to a declaration of intention presented by a debtor, a copy of the declaration signed by the Official Receiver who accepted it is produced to a creditor to whom the debtor owes a frozen debt, subsection (2) has effect throughout the remainder of that period.

      (2) It is not competent for the creditor:

      (a) to apply for the issue of enforcement process in respect of the debt; or

      (b) to enforce a remedy against the debtor’s person or property in respect of the debt.

      (3) Nothing in this section prevents a creditor from commencing a legal proceeding in respect of a debt, or from taking a fresh step in such a proceeding otherwise than in connection with enforcing a judgment.

      54F Duties of sheriff

      (1) Where, during the stay period in relation to a declaration of intention presented by a debtor, a copy of the declaration signed by the Official Receiver who accepted it is produced to a sheriff, subsections (2) and (3) have effect throughout the remainder of that period.

      (2) The sheriff shall refrain from taking action, or further action, to execute, or to sell property under, enforcement process issued in respect of a frozen debt owed by the debtor.

      (3) The sheriff shall refrain from paying to a person proceeds of enforcement process issued in respect of a frozen debt owed by the debtor.

      (4) A contravention of this section does not affect a person’s title to property that was purchased in good faith under a sale under enforcement process issued in respect of a debt.

      (5) Where:

      (a) under this section, a sheriff refrains from taking action, or further action, to sell real property under enforcement process issued in respect of a debt;

      (b) the debtor becomes a bankrupt; and

      (c) the property vests in the trustee of the bankrupt’s estate;

      the costs of executing the enforcement process are a first charge on the property.

      54G Duty of court registrar

      Where, during the stay period in relation to a declaration of intention presented by a debtor, a copy of the declaration signed by the Official Receiver who accepted it is produced to the registrar or other appropriate officer of a court, the registrar or other officer shall, throughout the remainder of that period, refrain from paying to a person proceeds of enforcement process issued in respect of a frozen debt owed by the debtor.

      54H Duties of person entitled to deduct money owing to declared debtor

      (1)

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