54
In forcePrescribed information to be supplied to debtor
Part 9Debt agreements
54 Prescribed information to be supplied to debtor
(1)
For the purposes of paragraph 185C(2D)(b) of the Act, the following information is prescribed:
(a)
information about alternatives to entering into a debt agreement;
(b)
information about the consequences of making a debt agreement proposal;
(c)
information about sources of financial advice and guidance to persons facing or contemplating entering into a debt agreement;
(d)
a statement that it is an act of bankruptcy for a debtor to give a debt agreement proposal to the Official Receiver.
(2)
The information must be factual and objective.
This Act’s bill:Explanatory statement
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