Document ID: chunk:federal_register_of_legislation:C2025C00167:section:133:p2
Version: federal_register_of_legislation:C2025C00167
Segment Type: section
Provision Reference: s 133 (pt 2/3)
Character Range: 398862–401346

of the leased property or has mortgaged the lease, to each sub‑lessee or mortgagee, 28 days' written notice of his or her intention to disclaim the lease; and
 (b) no person to whom the trustee has given such a notice has, within 28 days after it was given to the person, by written notice given to the trustee, required the trustee to apply to the Court for leave to disclaim the lease.
 (5) The Court may, in relation to an application for leave to disclaim a lease under this section:
 (a) impose such terms as a condition of granting the leave; and
 (b) make such orders with respect to fixtures, improvements and other matters arising out of the lease;
as the Court considers just and equitable.
 (5A) A trustee is not entitled to disclaim a contract (other than an unprofitable contract) without the leave of the Court.
 (5B) The Court may, in relation to an application for leave to disclaim a contract under this section:
 (a) impose such terms as a condition of granting the leave; and
 (b) make such orders with respect to matters arising out of the contract;
as the Court considers just and equitable.
 (6) Where:
 (a) an application in writing has been made to the trustee by a person interested in property requiring him or her to decide whether he or she will disclaim the property or not; and
 (b) the trustee has, for a period of 28 days after the receipt of the application, or such extended period as is allowed by the Court, declined or neglected to disclaim the property;
the trustee is not entitled to disclaim the property under this section and, in the case of a contract, he or she shall be deemed to have adopted it.
 (7) The Court may, on the application of a person who is, as against the trustee, entitled to the benefit or subject to the burden of a contract made with the bankrupt, make an order rescinding the contract on such terms as to payment by or to either party of damages for the non‑performance of the contract, or otherwise, as the Court considers just and equitable.
 (8) Damages so payable may be proved as a debt in the bankruptcy.
 (9) The Court may, on application by a person either claiming an interest in, or being under a liability not discharged by this Act in respect of, disclaimed property, and after hearing such persons as it thinks fit, make an order, on such terms as the Court considers just and equitable, for the vesting of the property in, or delivery of the property to, a person entitled to it or a person in whom, or to