Section 49 — Bankruptcy Act 1966 (Cth)

Where a creditor’s petition is not prosecuted with due diligence or where for any other reason the Court considers it proper to do so, the Court may permit to be substituted as petitioner or petitioners another creditor or other creditors to whom the debtor is indebted in the amount required by this Act in the case of a petitioning creditor, and the petition may be proceeded with as if the substituted creditor or creditors had been the petitioning creditor.

Related sections

• s 45 — Creditor’s petition against partnership
• s 46 — Petition against 2 or more joint debtors
• s 47 — Requirements as to creditor’s petition
• s 50 — Taking control of debtor’s property before sequestration
• s 51 — Costs of prosecuting creditor’s petition
• s 52 — Proceedings and order on creditor’s petition

Research how courts apply s 49

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