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COMMONWEALTHAct
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s 192

Changing the controlling trustee

In force
Part XPersonal insolvency agreements
Division 2Meeting of creditors and control of debtor’s property

192 Changing the controlling trustee

(1)

If a registered trustee or solicitor who has consented to exercise the powers given by an authority under section 188:

(a)

dies; or

(b)

ceases to be a registered trustee or solicitor; or

(c)

becomes incapable of exercising his or her powers under this Part; or

(d)

gives the Official Trustee a written request to be relieved of duties under this Part;

then:

(e)

the Official Trustee becomes the controlling trustee; and

(f)

the debtor may sign a new authority under section 188.

(2)

If the debtor signs a new authority under section 188 naming a registered trustee or solicitor, the registered trustee or solicitor becomes the controlling trustee when he or she consents to exercise the powers given by the authority.

(3)

If:

(a)

a meeting of creditors or the Court nominates a registered trustee or the Official Trustee to be the trustee of a personal insolvency agreement; and

(b)

the nominated trustee is not already the controlling trustee;

the nominated trustee becomes the controlling trustee when the nominated trustee consents to act as trustee of the agreement.

(4)

A person who becomes the controlling trustee under this section:

(a)

has the same powers and duties as the person originally authorised by the debtor under section 188; and

(b)

is taken for the purposes of this Division to have done any act or thing duly done earlier by an earlier controlling trustee.

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