Clause 6
New section 318A
of Insolvency, Restructuring and Dissolution (Amendment) Bill
BillNot in forceProvision 6 of 13
Clause 6
The principal Act is amended by inserting, immediately after section 318, the following section:“Proceedings on certain bankruptcy applications318A. The Court hearing a bankruptcy application must not make a bankruptcy order on the application if —
(a)
no licensed insolvency practitioner has consented to act as the trustee of the bankrupt’s estate; and
(b)
the Official Assignee has not consented to act as the trustee of the bankrupt’s estate.”.