s 189AC
In forceRight of indemnity for controlling trustee
Part XPersonal insolvency agreements
Division 2Meeting of creditors and control of debtor’s property
189AC Right of indemnity for controlling trustee
(1)
The controlling trustee is entitled to be indemnified out of the debtor’s property for:
(a)
his or her remuneration; and
(b)
any costs, charges or expenses properly and reasonably incurred by the controlling trustee while the debtor’s property was subject to control under this Division.
(2)
To secure a right of indemnity under subsection (1), the controlling trustee has a lien on the debtor’s property.
(3)
A lien under subsection (2) ceases to have effect if the debtor becomes a bankrupt.
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