Official Trustee to replace an administrator who dies etc
185ZB Official Trustee to replace an administrator who dies etc
If the administrator of a debt agreement dies, the Official Trustee becomes the replacement administrator of that debt agreement.
If:
a person who is the administrator of a debt agreement is registered under Division 8; and
the person ceases to be so registered;
then:
the person ceases to be the administrator of that debt agreement; and
the Official Trustee becomes the replacement administrator of that debt agreement.
If:
a person who is the administrator of a debt agreement is a registered trustee; and
the person ceases to be a registered trustee;
then:
the person ceases to be the administrator of that debt agreement; and
the Official Trustee becomes the replacement administrator of that debt agreement.
If, under section 185ZCB, the Court removes the administrator of a debt agreement from office, the Official Trustee becomes the replacement administrator of that debt agreement.
If, under subsection (1), (2), (3) or (5), the Official Trustee becomes the replacement administrator of a debt agreement, the Official Receiver must notify the parties to the debt agreement that:
the Official Trustee is the replacement administrator until further notice; and
(if applicable) the Official Receiver intends to appoint another person as the new administrator.
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.