Commonwealth Numbered Regulations

1996 No. 263 BANKRUPTCY REGULATIONS - SCHEDULE 1

                        SCHEDULE 1              Subregulation 1.03 (2)

FORMS
                          FORM 1                     Regulation 4.02

Bankruptcy Act 1966
BANKRUPTCY NOTICE

(prescribed under subsection 41 (2) of the Act)

To:    (name)                        ("the debtor")
of (address) This Bankruptcy Notice is an important document. You should get
legal advice if you are unsure of what to do after you have read it.
1.      (name)                                ("the creditor")

of (address)

claims you owe the creditor a debt of $[amount], as shown in the Schedule. 2.
The creditor claims that the debt is due and payable by you. A copy of the
judgment or order relied upon by the creditor is attached. At the time of
applying for this Notice, execution of the judgment or order had not been
stayed. 3. You are required, within [insert number in accordance with the note
to this paragraph] days after service on you of this Bankruptcy Notice:

   (a)  to pay to the creditor the amount of the debt; or

   (b)  to make an arrangement to the creditor's satisfaction for settlement
        of the debt. [NOTE: The number of days to be inserted is 21 or, if an
        order has been made under subparagraph 40 (1) (g) (ii) of the Act, the
        number of days constituting the time fixed by the order.] 4. Payment
        of the debt can be made to:

   (name)
of (address*)

*the address must be within Australia 5. Bankruptcy proceedings may be taken
against you if, within the time stated in paragraph 3, above:

   (a)  you do not comply with the requirements of either paragraph 3 (a) or
        paragraph 3 (b) above; and

   (b)  the Federal Court does not extend, or is not deemed to have extended,
        the time for compliance with this Bankruptcy Notice (see the
        "Information for debtors" section, below).

Column 1                                            Column 2
1. Amount of judgment or order
plus     2. Legal costs if ordered to be paid and a 

specific amount was not included in the
judgment or order (see Note 1, below)
plus     3. If claimed in this Bankruptcy Notice, 

interest accrued since the date of judgment
or order (see Note 2, below)
4. Subtotal
less     5. Payments made since date of judgment or order

6. Subtotal
plus     7. Cost of this Bankruptcy Notice

8. Total debt owing (Amounts, where applicable, are to be inserted in column
2) Notes to the Schedule Note 1: Legal costs (item 2 of the Schedule)

If legal costs are being claimed in this Bankruptcy Notice, a certificate of
taxed or assessed costs in support of the amount claimed must be attached to
this Bankruptcy Notice. Note 2: Interest accrued (item 3 of the Schedule)

If interest is being claimed in this Bankruptcy Notice, details of the
calculation of the amount of interest claimed are to be set out in a document
attached to this Bankruptcy Notice. The document must state:

   (a)  the provision under which the interest is being claimed; and

   (b)  the principal sum on which, the period for which, and the interest
        rate or rates at which, the interest is being claimed. (If different
        rates are claimed for different periods, full details must be shown)



* Note 3: Foreign currency amount conversion

(see Bankruptcy Regulations, reg. 4.04.)
  Total debt owing, expressed in foreign currency    [amount]

Commonwealth Bank of Australia opening telegraphic
transfer rate on __/__/__ (date) x [rate]
行行行
  Australian dollar equivalent               = $ [amount]

行行行

* delete Note 3 if not applicable
Information for debtors

1. The Federal Court of Australia may extend the time for compliance with this
Bankruptcy Notice if, within the time stated in paragraph 3 above, you apply
to that Court on one or both of the following grounds:

   (a)  that you have instituted proceedings to set aside the judgment or
        order in respect of which this Bankruptcy Notice has been issued;

   (b)  that you have filed with the Federal Court of Australia an application
        (on one or more grounds, apart from the grounds mentioned in paragraph
        2, below) to set aside this Bankruptcy Notice.

2. In addition, within the time specified in paragraph 3 above, you may file
an application to the Federal Court of Australia for an order to set aside
this Bankruptcy Notice on the specific grounds that:

   (a)  you have a counterclaim, set-off or cross demand equal to or exceeding
        the sum specified in this Bankruptcy Notice as owing to the judgment
        creditor; and

   (b)  in the action or proceeding in which the judgment or order mentioned
        in paragraph 2 of this Bankruptcy Notice was obtained, you could not
        have set up that counterclaim, set-off or cross demand*.

* This means that, because of a legal obstacle, you could not have raised that
counterclaim, set-off or cross demand in defence of the creditor's court
action against you. It is not enough if, for example, you simply neglected or
overlooked the matter.

NB:

        (i)    If you file, at the Federal Court Registry, an application
               mentioned in paragraph 1 (a) or (b) of "Information for
               debtors", you must still comply with this Bankruptcy Notice
               within the time stated in paragraph 3 above unless the Court
               extends the time for you to comply.

        (ii)   If you file, at the Federal Court Registry, an application
               mentioned in paragraph 2 (a) of "Information for debtors", you
               need not comply with this Bankruptcy Notice until the Court
               decides whether you have grounds for a counterclaim, set off or
               cross demand. Whether you will have to comply at that stage
               will depend on the Court's decision.

WARNING The above information is based on provisions of section 41 of the
Bankruptcy Act 1966. The information is a summary only, and not a complete
statement of the relevant law. It might be unwise to rely solely on this
summary. If you need a more detailed explanation, you should seek legal
advice. 3. The nearest Federal Court Registry to the debtor's address as shown
on this Bankruptcy Notice is located at: [set out the address of the relevant
Registry] This notice was prepared by and issued on the application of:



    (name)               _
  of (address for service)                 __
_
_
  (telephone/fax/                          __

  DX numbers)           __


FOR OFFICIAL USE ONLY

  Dated this  [date]  day of    [month]    [year]
Official Receiver for the Bankruptcy District of: (or an officer authorised by
the Official Receiver)



                             FORM 2           Regulation 16.17
TRUSTEE'S ACCOUNT OF RECEIPTS AND PAYMENTS (Title)
Particulars of the receipts and payments for the period commencing on (date),
and ending on (date), are as follows: Receipts

Particulars Estimated value according to bankrupt's Statement of Affairs
Total receipts as shown in last trustee's account filed
Receipts in this period
Total receipts to date Receipts in respect of assets shown in bankrupt's
Statement of Affairs: Other receipts:
      $             $            $                $

Total
Payments
Particulars Total payments as shown in last trustee's account filed Payments
in this period Total payments to date Legal expenses Trustee's remuneration
(specify basis of calculation) Fees paid under the Bankruptcy Act 1966, or to
the Registrar of the Federal Court Costs of securing and protecting assets
Charges of auctioneers, estate agents, etc. Postage and stationery Printing or
copying Advertising Allowance to debtor Trading payments Amounts paid to
secured creditors Amounts paid to creditors entitled to priority in payment of
their debts
Dividend now declared of   in the $ on

Dividends previously declared of    in the $ on

Total
Dated (date) .
(signature of trustee)