Cancellation of acceptance of debt agreement proposal for processing
Scope (1) This section applies if: (a) the Official Receiver has accepted a debt agreement proposal for processing; and (b) the applicable deadline has not arrived. Cancellation (2) The Official Receiver may cancel the acceptance of the debt agreement proposal for processing if: (a) the Official Receiver becomes aware that one or more affected creditors were not disclosed in the debtor’s statement of affairs; or (b) the Official Receiver becomes aware that: (i) the debtor’s statement of affairs; or (ii) the debtor’s subsection 185C(2B) statement; was deficient because it omitted a material particular or because it was incorrect in a material particular; or (c) the Official Receiver becomes aware of a material change in the debtor’s circumstances that: (i) was not foreshadowed in the debtor’s subsection 185C(2B) statement or the debtor’s statement of affairs; and (ii) in the opinion of the Official Receiver, is capable of affecting an affected creditor’s decision whether or not to accept the proposal; or (d) the Official Receiver becomes aware of a matter that, if it had been known to the Official Receiver at the time of acceptance of the debt agreement proposal for processing, would have resulted in a refusal of acceptance on the grounds that subsection 185C(4) had not been complied with. Notification of cancellation (3) If the Official Receiver cancels the acceptance of a debt agreement proposal for processing, the Official Receiver must give written notice of the cancellation, and the reasons for it, to: (a) the debtor; and (b) affected creditors who are known to the Official Receiver. Review (4) If the Official Receiver decides to cancel the acceptance of a debt agreement proposal for processing, the debtor may apply to the Administrative Review Tribunal for review of the decision.
Sourced from the Federal Register of Legislation at 26 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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