In force2020 Revised Edition

Contents

Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 15 · Debt Repayment Scheme

289. Referral by Court

(1)

Upon the Court adjourning a bankruptcy application made against a debtor and referring the matter to the Official Assignee under section 316(9) or 318(3), the Official Assignee must take such steps as are necessary to —

(a)

review the suitability of the debtor for a debt repayment scheme; and

(b)

where the debtor is suitable, implement the debt repayment scheme in accordance with this Part.

(2)

The Official Assignee must report to the Court of the debtor’s unsuitability for a debt repayment scheme if —

(a)

the aggregate of the debtor’s debts exceeds the prescribed amount;

(b)

the debtor does not meet any of the qualifying criteria specified in paragraph (b), (c), (d) or (e) of section 316(9) or 318(3), as the case may be;

(c)

the debtor, knowing or believing that a false or an inaccurate debt has been claimed by any person against the debtor under this Division, fails to inform the Official Assignee;

(d)

the Official Assignee becomes aware of any circumstance mentioned in section 300(1)(a), (b), (c), (d), (h) or (i); or

(e)

the Official Assignee is satisfied that the debtor is not suitable for a debt repayment scheme for any other reason.

(3)

Subsection (2) ceases to apply upon the commencement of a debt repayment scheme in respect of the debtor under section 292(1).