Document ID: chunk:federal_register_of_legislation:C2025C00167:section:185lc
Version: federal_register_of_legislation:C2025C00167
Segment Type: section
Provision Reference: s 185LC
Character Range: 584409–585729

185LC  Administrator to notify Official Receiver of a designated 6‑month arrears default by a debtor
 (1) If a designated 6‑month arrears default by a debtor occurs at particular time in relation to a debt agreement, the administrator of the debt agreement must notify, in writing, the Official Receiver of that occurrence within 10 business days of that occurrence.
 (2) The administrator of a debt agreement is not required to give a notification under subsection (1) in relation to the debt agreement if the administrator has already given such a notification in relation to the debt agreement.
 (3) For the purposes of this Part, a designated 6‑month arrears default by a debtor occurs at a particular time (the test time) in relation to a debt agreement if:
 (a) both of the following apply:
 (i) before the test time, one or more payments in respect of provable debts became due and payable by the debtor under the debt agreement;
 (ii) at no time during the 6‑month period ending immediately before the test time were any obligations in respect of those payments discharged; or
 (b) both of the following apply:
 (i) at the test time, the obligations created by the debt agreement have not been discharged;
 (ii) the last of those obligations should have been discharged at a time 6 months before the test time.