Document ID: chunk:federal_register_of_legislation:C2004C01279:clause:4_185qa
Version: federal_register_of_legislation:C2004C01279
Segment Type: clause
Provision Reference: sch 4 cl 185QA
Character Range: 106286–106981

185QA  Terminating a debt agreement by special resolution of creditors

 (1) A debt agreement is terminated by the passing of a special resolution to that effect by a meeting of creditors called for the purpose if:
 (a) property of the debtor is covered by a restraining order or a forfeiture order; or
 (b) a pecuniary penalty order made against the debtor is in force.

 (2) However:
 (a) paragraph (1)(a) does not apply if, when the debt agreement was made, the restraining order or forfeiture order already covered the property in question; and
 (b) paragraph (1)(b) does not apply if, when the debt agreement was made, the pecuniary penalty order was already in force against the debtor.