Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

BANKRUPTCY ACT 1966 - SECT 189AC

Right of indemnity for controlling trustee

  (1)   The controlling trustee is entitled to be indemnified out of the debtor's property for:

  (a)   his or her remuneration; and

  (b)   any costs, charges or expenses properly and reasonably incurred by the controlling trustee while the debtor's property was subject to control under this Division.

  (2)   To secure a right of indemnity under subsection   (1), the controlling trustee has a lien on the debtor's property.

  (3)   A lien under subsection   (2) ceases to have effect if the debtor becomes a bankrupt.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback