Document ID: chunk:federal_register_of_legislation:C2005C00495:clause:1_224a
Version: federal_register_of_legislation:C2005C00495
Segment Type: clause
Provision Reference: sch 1 cl 224A
Character Range: 55486–57584

224A  Notice that a personal insolvency agreement has been set aside, varied or terminated

 (1) If a personal insolvency agreement is terminated or varied by a resolution or special resolution at a meeting of creditors called for the purpose, the trustee of the agreement must immediately file a copy of the resolution or special resolution in the office of the Official Receiver.

 (2) If a personal insolvency agreement is varied in accordance with subsection 221A(5), the trustee of the agreement must immediately file a copy of the variation in the office of the Official Receiver.

 (3) If a personal insolvency agreement is terminated by the occurrence of any circumstance or event on the occurrence of which the deed provides that it is to terminate, the trustee of the agreement must immediately give written notice of that fact to the Official Receiver.

 (4) If:
 (a) the Court makes an order setting aside or terminating a personal insolvency agreement; and
 (b) a registered trustee was the trustee of the personal insolvency agreement;
the registered trustee must give written notice of the order to the Official Receiver.

 (5) If:
 (a) the Court makes an order setting aside or terminating a personal insolvency agreement; or
 (b) a personal insolvency agreement is terminated otherwise than because of an order of the Court;
the trustee of the personal insolvency agreement must give written notice of the order or termination to each of the creditors within 2 working days of the making of the order or of the termination, as the case may be.

 (6) For the purposes of subsection (5), a working day is a day that is not a Saturday, Sunday or public holiday in:
 (a) in the case of an order made by the Court—the place where the order is made; or
 (b) in the case of a termination otherwise than because of an order of the Court:
 (i) if the trustee of the personal insolvency agreement has only one office—the place where that office is located; or
 (ii) if the trustee of the personal insolvency agreement has 2 or more offices—the place where the principal office is located.