Commonwealth Consolidated Acts

BANKRUPTCY ACT 1966 - SECT 185LG

  (1)   For the purposes of this Act, a duty of an administrator under this Act is taken to be a duty of an administrator in relation to a debt agreement, even if the duty does not relate to a particular debt agreement.

  (1A)   Before a person signs a certificate under paragraph   185C(4C)(b) in relation to a debt agreement proposal, the person must:

  (a)   make reasonable inquiries about the debtor's financial situation; and

  (b)   take reasonable steps to verify the debtor's financial situation.

For the purposes of this Act, the requirements set out in paragraphs   (a) and (b) are taken to be duties of an administrator in relation to a debt agreement.

  (2)   If a person signs a certificate under subsection   185C(2D) or paragraph   185C(4C)(b) in relation to a debt agreement proposal:

  (a)   the person must ensure that the certificate is correct; and

  (b)   for the purposes of this Act, the requirement set out in paragraph   (a) is taken to be a duty of an administrator in relation to a debt agreement.

  (3)   For the purposes of this Act, a requirement set out in subsection   185LF(2) or 185N(5) is taken to be a duty of an administrator in relation to a debt agreement.