Commonwealth Numbered Regulations

1981 No. 305 BANKRUPTCY RULES (AMENDMENT) - REG 1

1. Rule 12 of the Bankruptcy Rules is amended-

   (a)  by omitting from paragraph (3) (b) "and"; and

   (b)  by inserting after paragraph (3) (b) the following paragraphs:



"(ba) where a registered trustee has, under sub-section 156A (1) of the Act,
consented to act as the trustee of the estate of the debtor, or as the trustee
of the joint and separate estates of the joint debtors, as the case may
be-file a copy of the trustee's consent;

   (bb) where paragraph (ba) does not apply-file an affidavit by the
        petitioning creditor stating that-

        (i)    he believes that the value of the property of the debtor, or of
               the property comprising the joint estate of the joint debtors,
               as the case may be, that would be divisible amongst the
               creditors by virtue of section 116 of the Act if a
               sequestration order were made (but not including any property
               acquired by or devolving on the debtor, or on the joint debtors
               jointly, as the case may be, after the making of the
               sequestration order, that would be so divisible) is less than
               $10,000 or, if another amount is for the time being prescribed
               for the purposes of sub-paragraph 52 (1A) (b) (i) of the Act,
               that other amount, and stating the grounds on which he holds
               that belief; or

        (ii)   he has, in all the circumstances of the case, taken all
               reasonable steps to obtain from a registered trustee a consent
               under sub-section 156A (1) of the Act in respect of the estate
               of the debtor, or in respect of the joint and separate estates
               of the joint debtors who would become bankrupts upon the making
               of a sequestration order, as the case may be, but has been
               unable to obtain any such consent; and".