Section 185LF — Bankruptcy Act 1966 (Cth)

Scope

(1) This section applies if:

(a) a person (the earlier administrator) ceases to be the administrator of a debt agreement; and

(b) another person (the later administrator) becomes the administrator of the debt agreement in place of the earlier administrator.

Duty

(2) The earlier administrator must:

(a) prepare an account of:

(i) money received by the earlier administrator from the debtor in relation to the debt agreement; and

(ii) payments made by the earlier administrator in relation to the debt agreement; and

(b) keep a copy of the account; and

(c) give the later administrator:

(i) a copy of the account; and

(ii) a copy of any other accounts the earlier administrator received from a person who was the administrator of the debt agreement before the earlier administrator.

Related sections

• s 185LDA — Offence relating to the trust account
• s 185LE — Administrator to keep accounts etc.
• s 185LEA — Annual return
• s 185LG — Duties of an administrator in relation to debt agreements—extended meaning
• s 185M — Varying a debt agreement
• s 185MA — Procedures for dealing with proposals to vary debt agreements

Research how courts apply s 185LF

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.