Section 224 — Bankruptcy Act 1966 (Cth)

Scope

(1) This section applies if a personal insolvency agreement is:

(a) set aside by the Court; or

(b) terminated.

Validity of acts

(2) All payments made, acts and things done and transactions entered into in good faith under, or for the purposes of, the agreement by:

(a) the trustee; or

(b) any other person;

before he or she had notice of the order of the Court or of the termination of the agreement, as the case may be, are valid and effectual and are not liable to be set aside by the trustee of a later personal insolvency agreement or in a subsequent bankruptcy.

Related sections

• s 222B — Termination of personal insolvency agreement by creditors
• s 222C — Court may terminate personal insolvency agreement
• s 222D — Termination of personal insolvency agreement by occurrence of terminating event
• s 224A — Notice that a personal insolvency agreement has been set aside, varied or terminated
• s 225 — Evidence of personal insolvency agreement, resolution etc.
• s 226 — Creditor may inspect personal insolvency agreement etc.

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