Document ID: chunk:federal_register_of_legislation:C2025C00167:section:5:p12
Version: federal_register_of_legislation:C2025C00167
Segment Type: section
Provision Reference: s 5 (pt 12/12)
Character Range: 70226–71479

to a person's conduct, dealings, transactions, property or affairs.
 (2) A person is solvent if, and only if, the person is able to pay all the person's debts, as and when they become due and payable.
 (3) A person who is not solvent is insolvent.
 (4) Unless the contrary intention appears, a reference in this Act to the trustee of the estate of a bankrupt, or to the trustee of a personal insolvency agreement, shall:
 (a) in relation to an estate or a personal insolvency agreement in respect of which there are 2 or more joint trustees—be read as a reference to all the trustees; or
 (b) in relation to an estate or a personal insolvency agreement in respect of which there are 2 or more joint and several trustees—be read as a reference to all of the trustees or any one or more of the trustees.
 (6) For the purposes of this Act, the members of a person's family are taken to include the following (without limitation):
 (a) a de facto partner of the person;
 (b) someone who is the child of the person, or of whom the person is the child, because of the definition of child in this section;
 (c) anyone else who would be a member of the person's family if someone mentioned in paragraph (a) or (b) is taken to be a member of the person's family.