s 185H

Making a debt agreement

In force

(1)

This section sets out the 2 situations in which a debt agreement is made.

Unconditional debt agreement proposals

(2)

If:

(a)

a debt agreement proposal is accepted; and

(b)

the proposal is not expressed to be subject to the occurrence of a specified event within a specified period after the proposal is accepted;

then:

(c)

the Official Receiver must enter details of the debt agreement concerned on the National Personal Insolvency Index; and

(d)

the debt agreement is made in the terms of the proposal when those details are so entered.

Note:

Section 185EC explains how a proposal is accepted.

Conditional debt agreement proposals

(3)

If:

(a)

a debt agreement proposal is accepted; and

(b)

the proposal is expressed to be subject to the occurrence of a specified event within a specified period after the proposal is accepted; and

(c)

the event occurs within that period;

then:

(d)

the Official Receiver must enter details of the debt agreement concerned on the National Personal Insolvency Index; and

(e)

the debt agreement is made in the terms of the proposal when those details are so entered.

Note:

Section 185EC explains how a proposal is accepted.

Research tools for this sectionPro

The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.