Bankruptcy Act 1966

In force

Administered by

Department of the Treasury

Superseded version

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C2022C00089 C89

01 March 2022 - 27 September 2022

Table of contents

Part I—Preliminary
- 1 Short title
- 2 Commencement
- 4 Repeal
- 4A Insolvency Practice Schedule
Part IA—Interpretation
- 5 Interpretation
- 5A Acting in accordance with a person’s directions or instructions
- 5B Associated entities: companies
- 5C Associated entities: natural persons
- 5D Associated entities: partnerships
- 5E Associated entities: trusts
- 5F Controlling an entity in relation to a matter
- 5G Financial affairs of a company
- 5H Financial affairs of a natural person
- 5J Financial affairs of a partnership
- 5K Financial affairs of a trust
- 6 Meaning of intent to defraud creditors
- 6A Statement of affairs for purposes other than Part XI
- 6B Provision of statement of affairs under Part XI and statement of administration of estate of deceased person
- 6C Interpretive provisions relating to proceeds of crime orders
- 6D Approved forms
Part IB—Application of Act
- 7 Application of Act
- 7A Application of the Criminal Code
- 8 Act binds the Crown
- 9 Laws of States and Territories not affected by Act
Part II—Administration
- Division 1—General
- Division 2—Common Investment Fund
Part III—Courts
- Division 2—Jurisdiction and powers of courts in bankruptcy
Part IV—Proceedings in connexion with bankruptcy
- Division 1—Acts of bankruptcy
- Division 2—Creditors’ petitions
- Division 2A—Declaration of intention to present debtor’s petition
- Division 3—Debtors’ petitions
- Division 4—Effect of bankruptcy on property and proceedings
- Division 6—Composition or arrangement with creditors
Part V—Control over person and property of debtors and bankrupts
- Division 1—General
- Division 2—Offshore information notices
- Division 3—Failure to comply with certain notices
  - 81G Effect of non-compliance with notice
Part VI—Administration of property
- Division 1—Proof of debts
- Division 2—Order of payment of debts
  - Subdivision A—General
  - Subdivision B—The effect of proceeds of crime orders and applications for proceeds of crime orders
- Division 3—Property available for payment of debts
  - Subdivision A—General
  - Subdivision B—Superannuation contributions
- Division 4—Realization of property
- Division 4A—Orders in relation to property of entity controlled by bankrupt or from which bankrupt derived a benefit
- Division 4B—Contribution by bankrupt and recovery of property
- Division 5—Distribution of property
Part VII—Discharge and annulment
- Division 1—Preliminary
  - 148 Misleading conduct by bankrupt
- Division 2—Discharge by operation of law
- Division 4—Provisions applicable to all discharges
  - 152 Discharged bankrupt to give assistance
  - 153 Effect of discharge
- Division 5—Annulment of bankruptcy
Part VIII—Trustees
- Division 1—Appointment and official name
- Division 2—Remuneration and costs of the Official Trustee and Official Receiver
  - 163 Remuneration of the Official Trustee
  - 163A Costs and expenses of Official Receiver
- Division 5—Vacation of office
Part IX—Debt agreements
- Division 1—Introduction
  - 185 Definitions
  - 185A Adequate and appropriate professional indemnity and fidelity insurance
- Division 2—Debt agreement proposals
- Division 3—Making a debt agreement
- Division 3A—Duties of administrators
- Division 4—Varying a debt agreement
- Division 5—Ending a debt agreement
- Division 6—Voiding a debt agreement
- Division 7—General provisions relating to debt agreements
- Division 8—Registration of debt agreement administrators etc.
Part X—Personal insolvency agreements
- Division 1—Interpretation
  - 187 Interpretation
  - 187A Application of Part to joint debtors
- Division 2—Meeting of creditors and control of debtor’s property
- Division 3—General provisions
Part XI—Administration of estates of deceased persons in bankruptcy
- 244 Administration of estates under this Part upon petition by creditor
- 245 Debtor dying after presentation of creditor’s petition
- 246 Statement of deceased debtor’s affairs etc. by legal personal representative
- 247 Petition for administration under this Part by person administering deceased person’s estate
- 247A Commencement of administration under Part
- 248 Application of Act in relation to administrations under this Part
- 248A Consolidation of proceedings
- 249 Vesting of property on making of order
- 249A Charge over property owned in joint tenancy
- 250 Effect of order under Part where deceased person was bankrupt
- 251 Real property devised by will that vests directly in devisee to form part of estate in certain cases
- 252 Liability of legal personal representative
- 252A Annulment on payment of debts
- 252B Annulment by Court
- 252C Effect of annulment
Part XIA—Farmers’ debts assistance
- 253A Interpretation
- 253B Law of State or Territory may be proclaimed
- 253C Notice about stay under proclaimed law
- 253E Relevant authority may apply for stay of proceedings under certain petitions
- 253F Relevant authority may be heard on application relating to debtor’s petition
Part XII—Unclaimed dividends or moneys
- 254 Payment of unclaimed moneys to the Commonwealth
Part XIII—Evidence
- 255 Record of proceedings or evidence
- 256 Evidence of matters stated in notices published in Gazette
- 257 Evidence of proceedings at meetings of creditors or committee of inspection
- 258 Presumption about due convening of meetings etc.
- 262 Swearing of affidavits
Part XIV—Offences
- 263 Concealment etc. of property etc.
- 263A False affidavits
- 263C False claims about a creditor’s entitlement to vote
- 264A Failure of person to attend before the Court etc.
- 264B Arrest of person failing to attend before the Court etc.
- 264C Refusal to be sworn or give evidence etc.
- 264D Prevarication or evasion in the course of examination
- 264E Offences in relation to Registrar or magistrate conducting an examination
- 265 Failure of bankrupt or debtor to disclose property etc.
- 265A Offences relating to exercise of powers under section 77A or 130
- 266 Disposing or charging of property by person who becomes, or has become, a bankrupt
- 267 False declaration by debtor or bankrupt
- 267B Failure of person to provide information
- 267D Failure of person to attend
- 267E Arrest of person failing to attend before Official Receiver or authorised officer
- 267F Refusal to be sworn or give evidence etc.
- 267G Prevarication or evasion in the course of giving evidence
- 268 Offences in relation to personal insolvency agreements
- 269 Bankrupt or debtor who is a party to a debt agreement obtaining credit etc. without disclosing bankruptcy or debt agreement
- 270 Failure to keep proper books of account
- 271 Gambling or hazardous speculations
- 272 Leaving Australia with intent to defeat creditors etc.
- 273 Trial of offences constituted by refusal, failure or omission to act
- 275 Criminal liability not affected by discharge etc.
- 276 Trustee acting under a personal insolvency agreement that has been set aside
- 277 Punishment of contempt of court
- 277A Keeping of books in respect of period of bankruptcy
- 277B Infringement notices for offences
Part XV—Provisions relating to the Bankruptcy (Estate Charges) Act 1997
- 278 Interpretation
- 279 Administration of, and powers and functions in relation to, the Charges Acts
- 280 Deferred payment of interest charge or realisations charge
- 281 Late payment penalty—interest charge and realisations charge
- 282 Extension of time for payment—interest charge and realisations charge
- 283 Remission of interest charge, realisations charge and late payment penalty
- 284 Recovery of interest charge, realisations charge and late payment penalty
- 285 Payments by cheque or payment order
- 286 Regulations may deal with other matters
Part XVI—Miscellaneous
- 301 Certain provisions in contracts etc. to be void
- 302 Certain provisions in bills of sale etc. to be void
- 302A Certain provisions in governing rules of superannuation funds and approved deposit funds to be void
- 302AB Certain provisions in RSA’s terms and conditions to be void
- 302B Certain provisions in trust deeds void
- 303 Applications to Court
- 304 Parts of dollar to be disregarded in determining majority in value of creditors etc.
- 304A Indexation
- 305 Payment of expenses by Commonwealth
- 306 Formal defect not to invalidate proceedings
- 306A Protection of Registrars, magistrates etc. in relation to examinations
- 306B Protection in respect of reports
- 307 Proceedings in firm name
- 308 Representation of corporation etc.
- 309 Service of notices etc.
- 311 Stamp duty not payable on trustee’s cheques or receipts
- 313 Audit of accounts and records of the Official Trustee and the Official Receivers
- 315 Regulations
- 316 Legislative instruments determining fees
Schedule 1—Acts repealed
Schedule 2—Insolvency Practice Schedule (Bankruptcy)
- Part 1—Introduction
- Part 2—Registering and disciplining practitioners
- Part 3—General rules relating to estate administrations
- Part 4—Other matters
- Endnotes

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Bankruptcy Act 1966

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Bankruptcy Act 1966

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