Document ID: chunk:federal_register_of_legislation:C2005C00495:clause:1_189ac
Version: federal_register_of_legislation:C2005C00495
Segment Type: clause
Provision Reference: sch 1 cl 189AC
Character Range: 23561–24119

189AC  Right of indemnity for controlling trustee

 (1) The controlling trustee is entitled to be indemnified out of the debtor's property for:
 (a) his or her remuneration; and
 (b) any costs, charges or expenses properly and reasonably incurred by the controlling trustee while the debtor's property was subject to control under this Division.

 (2) To secure a right of indemnity under subsection (1), the controlling trustee has a lien on the debtor's property.

 (3) A lien under subsection (2) ceases to have effect if the debtor becomes a bankrupt.