Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If:
(a) a creditor presents a bankruptcy petition to a court against a member or his or her dependant; and
(b) the member or dependant satisfies the court that he or she was unable to pay the relevant debts because of circumstances directly or indirectly attributable to the member's defence service;
the court may stay the proceedings under the petition for such time and subject to such conditions as the court thinks fit.
(2) If:
(a) a court has, on the petition of a creditor, made a sequestration order against a person who is a member or a dependant of a member; and
(b) on application, the court is satisfied that, if the sequestration order is annulled:
(i) the business (if any) of that person will continue to be carried on by the person or on his or her behalf; and
(ii) there will be a reasonable prospect of that business being carried on successfully;
the court may make an order annulling the sequestration order.
(3) An order under subsection (2) annulling a sequestration order has the same effect as an annulment of the sequestration order under the Bankruptcy Act 1966 .
(4) An order under subsection (2) may be made on such conditions (including the reimbursement of the costs incurred by the petitioning creditor in the bankruptcy proceedings) as the court thinks fit.