Document ID: chunk:federal_register_of_legislation:F2024C01292:clause:3_19
Version: federal_register_of_legislation:F2024C01292
Segment Type: clause
Provision Reference: sch 3 cl 19
Character Range: 202302–202841

19  Subsection 157(1)
Repeal the subsection, substitute:
 (1) If:
 (a) the Official Trustee is:
 (i) under section 188 or 192, the controlling trustee in relation to a debtor; or
 (ii) under Part X, the trustee of a personal insolvency agreement; and
 (b) the creditors wish to appoint, in place of the Official Trustee:
 (i) a registered trustee or a solicitor as the controlling trustee; or
 (ii) a registered trustee as the trustee of the personal insolvency agreement;
the creditors may do so by resolution at a meeting of creditors.