Document ID: chunk:federal_register_of_legislation:C2007A00044:clause:2_29
Version: federal_register_of_legislation:C2007A00044
Segment Type: clause
Provision Reference: sch 2 cl 29
Character Range: 40106–41228

29  After subsection 185E(2A)
Insert:

 (2B) If the person specified under paragraph 185C(2)(c) is not the debtor, the Official Receiver must not accept the debt agreement proposal for processing unless:
 (a) the person is a registered debt agreement administrator; or
 (b) the person is a registered trustee; or
 (c) both:
 (i) the person is the administrator of not more than 5 debt agreements; and
 (ii) no declaration is in force in relation to the person under section 186M.

 (2C) If:
 (a) the person specified under paragraph 185C(2)(c) in relation to a debt agreement proposal (the first debt agreement proposal) is not:
 (i) a registered debt agreement administrator; or
 (ii) a registered trustee; and
 (b) the person is specified under that paragraph in relation to one or more other debt agreement proposals;
the Official Receiver must not accept the first debt agreement proposal for processing if the person would become the administrator of more than 5 debt agreements if it were assumed that:
 (c) the first debt agreement proposal is accepted; and
 (d) those other debt agreement proposals are accepted.