Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Where an order is made for the administration of the estate of a deceased person under this Part who was, at the time of his or her death, a bankrupt:
(a) property:
(i) that was acquired by, or devolved on, the deceased person on or after the date of the bankruptcy; and
(ii) that is divisible amongst the creditors of the deceased person, but had not been distributed amongst the creditors in the bankruptcy before the date on which the order was made;
shall (subject to any disposition of that property made by the trustee in the bankruptcy without knowledge of the presentation of the petition on which the order was made and subject also to section 126 in its application to the administration of deceased estates under this Part by virtue of section 248) vest forthwith in the trustee of the estate of the deceased person;
(b) property:
(i) that is acquired by, or devolves on, the estate of the deceased person on or after the date of the making of the order; and
(ii) that is divisible amongst the creditors of the estate under this Part;
vests in the trustee of the estate of the deceased person under this Part as soon as it is acquired by, or devolves on, the estate;
(c) the trustee in the bankruptcy:
(i) shall be deemed to be a creditor in the administration of the estate of the deceased person under this Part in respect of any unsatisfied balance of his or her expenses or remuneration in the bankruptcy, the liabilities incurred by him or her in administering the estate in the bankruptcy and the debts proved in the bankruptcy (whether or not those debts are entitled to priority, or are postponed, in the bankruptcy);
(ii) shall rank equally with the ordinary unsecured creditors of the estate of the deceased person in its administration under this Part; and
(iii) may, where he or she has lodged a proof of debt in the administration under this Part, amend that proof of debt, without the consent of the trustee of the estate of the deceased person under this Part, for the purpose of adding:
(A) his or her expenses in the bankruptcy that have, or his or her remuneration in the earlier bankruptcy that has, accrued after the proof of debt was lodged;
(B) liabilities incurred by him or her in administering the estate in the bankruptcy after the proof of debt was lodged; or
(C) debts proved in the bankruptcy after the proof of debt was lodged;
or, with the consent of the trustee of the estate of the deceased person, for any other purpose;
(d) a charge or charging order that, by virtue of subsection 118(9), is void as against the trustee in the bankruptcy continues to be void as against that trustee; and
(e) a transaction that, by virtue of section 120, 121, 122, 128B or 128C, is void as against the trustee in the bankruptcy continues to be void as against that trustee.
(2) Where:
(a) the trustee of the estate of a bankrupt who has died receives, after the death of the bankrupt, notice of the presentation of a creditor's petition against the deceased bankrupt, being a petition that was presented before he or she died; or
(b) the trustee of the estate of a bankrupt who has died receives notice of the presentation of a petition for the administration of the estate of the deceased bankrupt under this Part;
the trustee shall hold the after - acquired property of the deceased bankrupt that is then in the possession of the trustee, or the proceeds thereof, until the petition has been dealt with by the Court or has lapsed.
(3) Where the trustee of the estate of a bankrupt who has died receives, after the death of the bankrupt, notice of the reference to the Court of a debtor's petition against the deceased bankrupt, being a petition that was presented before he or she died, the trustee shall hold the after - acquired property of the deceased bankrupt that is then in the possession of the trustee, or the proceeds thereof, until the Court has dealt with the petition.
(4) Where the trustee of the estate of a bankrupt who has died is holding after - acquired property of the deceased bankrupt, or the proceeds of any such property, in pursuance of subsection 59(2) or (3) or subsection (2) or (3) of this section and an order is made for the administration of the estate of the deceased bankrupt under this Part, the trustee shall:
(a) in a case where the trustee is also the trustee in relation to the administration of the estate of the deceased bankrupt under this Part--hold all such property, and the proceeds of such property, as trustee in relation to the administration of the estate of the deceased bankrupt under this Part; or
(b) in any other case--deliver all such property, and pay the proceeds of such property, to the trustee in relation to the administration of the estate of the deceased bankrupt under this Part.
(5) Where a law of the Commonwealth or of a State or Territory requires the transmission of property to be registered, and enables the trustee in relation to the administration of the estate of a deceased person under this Part to be registered as the owner of any such property that is part of the property of the estate, that property, notwithstanding that it vests in equity in the trustee by virtue of subsection (1), does not vest in the trustee at law until the requirements of that law have been complied with.
(6) In subsections (2), (3) and (4), after - acquired property , in relation to a deceased bankrupt, means such of the property that was acquired by, or devolved on, the bankrupt on or after the date of the bankruptcy and before he or she died or that was acquired by, or devolved on, the estate of the bankrupt after his or her death, being property divisible among the creditors of the deceased bankrupt, as has not been distributed amongst the creditors in the bankruptcy.