Commonwealth Consolidated Acts

BANKRUPTCY ACT 1966 - SECT 73B

  (1)   This section applies if the proposal provides that a person (the proposed trustee ) other than the trustee of the bankrupt's estate is to become the trustee of the composition or scheme of arrangement.

  (2)   The proposed trustee must make a written declaration stating whether the bankrupt is a related entity of:

  (a)   the proposed trustee; or

  (b)   a related entity of the proposed trustee.

  (3)   The proposed trustee must:

  (a)   give a copy of the declaration to the Official Receiver; and

  (b)   give a copy of the declaration to the trustee of the bankrupt's estate; and

  (c)   keep a copy of the declaration.