Bankruptcy Act 1966

This section applies if:

the Official Receiver has accepted a debt agreement proposal for processing; and

the applicable deadline has not arrived.

The Official Receiver may cancel the acceptance of the debt agreement proposal for processing if:

the Official Receiver becomes aware that one or more affected creditors were not disclosed in the debtor’s statement of affairs; or

the Official Receiver becomes aware that:

the debtor’s statement of affairs; or

the debtor’s subsection 185C(2B) statement;

the Official Receiver becomes aware of a material change in the debtor’s circumstances that:

was not foreshadowed in the debtor’s subsection 185C(2B) statement or the debtor’s statement of affairs; and

in the opinion of the Official Receiver, is capable of affecting an affected creditor’s decision whether or not to accept the proposal; or

the Official Receiver becomes aware of a matter that, if it had been known to the Official Receiver at the time of acceptance of the debt agreement proposal for processing, would have resulted in a refusal of acceptance on the grounds that subsection 185C(4) had not been complied with.

If the Official Receiver cancels the acceptance of a debt agreement proposal for processing, the Official Receiver must give written notice of the cancellation, and the reasons for it, to:

the debtor; and

affected creditors who are known to the Official Receiver.

If the Official Receiver decides to cancel the acceptance of a debt agreement proposal for processing, the debtor may apply to the Administrative Review Tribunal for review of the decision.