Prescribed information to be supplied by Official Receiver to debtor
19 Prescribed information to be supplied by Official Receiver to debtor
For the purposes of subsections 54D(1), 55(3A), 56B(5) and 57(3A) of the Act, the following information is prescribed:
information about alternatives to bankruptcy;
information about the consequences of bankruptcy;
information about sources of financial advice and guidance to persons facing or contemplating bankruptcy;
information about a debtor’s right to choose whether the bankruptcy is initially administered by a registered trustee or the Official Trustee;
a statement that it is an act of bankruptcy for a debtor to present to the Official Receiver, under section 54A of the Act, a declaration of intention to present a debtor’s petition.
The information must be factual and objective.
This Act’s bill:Explanatory statement
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