Commonwealth Consolidated Acts

BANKRUPTCY ACT 1966 - SECT 185ZB

  (1)   If the administrator of a debt agreement dies, the Official Trustee becomes the replacement administrator of that debt agreement.

  (2)   If:

  (a)   a person who is the administrator of a debt agreement is registered under Division   8; and

  (b)   the person ceases to be so registered;

then:

  (c)   the person ceases to be the administrator of that debt agreement; and

  (d)   the Official Trustee becomes the replacement administrator of that debt agreement.

  (3)   If:

  (a)   a person who is the administrator of a debt agreement is a registered trustee; and

  (b)   the person ceases to be a registered trustee;

then:

  (c)   the person ceases to be the administrator of that debt agreement; and

  (d)   the Official Trustee becomes the replacement administrator of that debt agreement.

  (5)   If, under section   185ZCB, the Court removes the administrator of a debt agreement from office, the Official Trustee becomes the replacement administrator of that debt agreement.

  (6)   If, under subsection   (1), (2), (3) or (5), the Official Trustee becomes the replacement administrator of a debt agreement, the Official Receiver must notify the parties to the debt agreement that:

  (a)   the Official Trustee is the replacement administrator until further notice; and

  (b)   (if applicable) the Official Receiver intends to appoint another person as the new administrator.