Clause 12
Amendment of section 56I
of Bankruptcy (Amendment) Bill
Section 56I of the Bankruptcy Act is amended —
by deleting paragraph (a) of subsection (1) and substituting the following paragraphs:“(a)first, the costs and expenses incurred by the Official Assignee in the administration of the scheme;
(aa)second, the costs (whether taxed or agreed) of the applicant creditor in respect of the relevant bankruptcy application made against the debtor;”;
by deleting the word “secondly” in subsection (1)(b) and substituting the word “third”;
by deleting the word “thirdly” in subsection (1)(c) and substituting the word “fourth”;
by deleting the word “fourthly” in subsection (1)(d) and substituting the word “fifth”;
by deleting paragraph (e) of subsection (1) and substituting the following paragraph:“(e)sixth, all amounts due in respect of contributions payable during a period of 12 consecutive months beginning not earlier than 12 months before, and ending not later than 12 months after, the effective date of the scheme, by the debtor as the employer of any person under any written law relating to employees’ superannuation or provident funds or under any scheme of superannuation which is an approved scheme under the Income Tax Act (Cap. 134);”;
by deleting the word “sixthly” in subsection (1)(f) and substituting the word “seventh”;
by deleting the word “seventhly” in subsection (1)(g) and substituting the word “eighth”;
by deleting subsections (2) and (3) and substituting the following subsection:“(2) The amount payable under subsection (1)(b) and (c) must not exceed such amount as the Minister may prescribe by order published in the Gazette.”; and
by inserting, immediately after the words “subsection (1)(a)” in subsection (7), the words “and (aa)”.