122. Right of bankrupt to surplus
Feedback & supportLast amended by an amending law of 2005.
The bankrupt shall be entitled to any surplus remaining after payment in full of his creditors, with interest as by this Act provided, and of the costs, charges and expenses of the proceedings under the bankruptcy application.
bankrupt
“bankrupt” means —(a)the individual debtor who has been adjudged bankrupt by a bankruptcy order; or(b)where a bankruptcy order has been made against a firm, each of the partners in the firm;
Notwithstanding subsection (1), the court may make an order directing the Official Assignee not to pay the surplus or part thereof to the bankrupt if —
the Attorney-General applies for an order under this section; and
the court is satisfied that —
proceedings under any written law dealing with confiscation of the proceeds of crime are pending; and
the property of the bankrupt may become subject to a confiscation order or be required to meet some other order made on those proceedings.
The court may, on an application, vary or revoke an order made under subsection (2).