Document ID: chunk:federal_register_of_legislation:C2025C00167:section:20j:p2
Version: federal_register_of_legislation:C2025C00167
Segment Type: section
Provision Reference: s 20J (pt 2/3)
Character Range: 125102–127559

period in respect of which the interest accrued that occurred before the commencing date bears to the number of days in that period forms part of the estate in respect of which those moneys or investments were held immediately before the commencing date.
 (3A) Where, on or after the date of commencement of this subsection (in this subsection referred to as the commencing day), the Official Trustee receives an amount by way of interest on moneys held or received by the Official Trustee by reason of being trustee of a fund referred to in paragraph (1)(b) (in this subsection referred to as the appropriate fund), being moneys that form part of the Common Fund:
 (a) if the interest accrued in respect of a period that ended before the commencing date—the amount of the interest forms part of the appropriate fund; or
 (b) if the interest accrued in respect of a period that commenced before, but ended on or after, the commencing day—an amount that bears to the amount of that interest the same proportion as the number of days in the part of the period in respect of which the interest accrued that occurred before the commencing day bears to the number of days in that period forms part of the appropriate fund.
 (4) Where it is established that:
 (a) moneys held by the Official Trustee as the trustee of the estate of a bankrupt or of a deceased debtor do not form part of the estate; or
 (b) moneys held by the Official Trustee as part of a fund referred to in paragraph (1)(b) do not form part of the fund;
interest on those moneys is payable to the person to whom those moneys are payable, out of the Common Fund, at the rate prescribed by the regulations for the purposes of this section and in respect of the period during which those moneys are held by the Official Trustee.
 (5) For the purposes of subsection (2), moneys shall be taken to have been held, or to be likely to be held, by the Official Trustee for a prescribed reason if the moneys have been held, or are likely to be held, as the case may be, by the Official Trustee:
 (a) by reason of the institution or defending of legal proceedings in good faith;
 (b) by reason that a person has, or has had, under consideration, in good faith, the institution or defending of legal proceedings; or
 (c) for any other reason declared by the regulations to be a prescribed reason for the purposes of this section.

Part III—Courts

Division 2—Jurisdiction and powers of courts in bankruptcy