Commonwealth Consolidated Acts

BANKRUPTCY ACT 1966 - SECT 185QA

  (1)   If:

  (a)   the administrator of a debt agreement notifies the Official Receiver that a designated 6 - month arrears default by the debtor has occurred; and

  (b)   the Official Receiver is satisfied that the designated 6 - month arrears default has occurred;

the Official Receiver must:

  (c)   declare in writing that the agreement is terminated; and

  (d)   record the declaration on the National Personal Insolvency Index.

  (2)   The debt agreement is terminated when the declaration is recorded on the National Personal Insolvency Index.