Document ID: chunk:federal_register_of_legislation:F2024C01292:reg:70
Version: federal_register_of_legislation:F2024C01292
Segment Type: reg
Provision Reference: reg 70
Character Range: 86751–88357

70  Certificate relating to realisation of divisible property and non‑availability of dividend

Certificate to be given to debtor
 (1) If the trustee of a personal insolvency agreement in relation to a debtor is satisfied that:
 (a) the divisible property of the debtor has, so far as practicable, been realised; and
 (b) no dividend is payable to the creditors;
the trustee must give the debtor a certificate signed by the trustee to that effect.
 (2) The trustee must give the certificate to the debtor within 5 business days after becoming so satisfied.
 (3) In any proceeding, a certificate signed by the trustee under subsection (1):
 (a) is prima facie evidence of the matters stated in it; and
 (b) may be tendered in evidence without further proof.

Copy of certificate to be given to Official Receiver
 (4) If the trustee gives a certificate to the debtor under subsection 232(1) of the Act or subsection (1) of this section, the trustee must:
 (a) give a copy of the certificate to the Official Receiver; and
 (b) do so within 5 business days after giving the certificate.

Official Trustee not required to give copy
 (5) However, subsection (4) does not apply if the trustee is the Official Trustee.

Offence
 (6) A person commits an offence if:
 (a) the person is required to give a copy of a certificate to the Official Receiver in accordance with subsection (4); and
 (b) the person fails to comply with the requirement.
Penalty: 1 penalty unit.
 (7) An offence against subsection (6) is an offence of strict liability.

Part 11—Administration of estates of deceased persons in bankruptcy