Bill
Bankruptcy Amendment (Discharge from Bankruptcy) Bill 2023
passed, as at 2023-11-22. Attorney-General portfolio.
- Sponsor
- Not recorded
- Portfolio
- Attorney-General
Recorded stages
- introduced — 2023-11-14
- second reading — 2023-11-14
- second reading — 2023-11-15
- second reading — 2023-11-15
- third reading — 2023-11-15
- third reading — 2023-11-15
- third reading — 2023-11-15
- introduced — 2023-11-15
- second reading — 2023-11-15
- second reading — 2023-11-17
- second reading — 2023-11-17
- third reading — 2023-11-17
- passed — 2023-11-17
- royal assent — 2023-11-22
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2023-11-14.
The bill would change the Bankruptcy Act to match the long-standing practice of the Australian Financial Security Authority on when a statement of affairs is considered filed.
It would validate past decisions made based on the dates recorded by the Official Receiver and set a 14-day timeframe for accepting or refusing a statement of affairs.
The automatic discharge from bankruptcy would occur three years and one day after the Official Receiver accepts the statement of affairs, rather than when it is first presented.
- Aligns the Act with the established practice of recording the filing date as the date of acceptance.
- Validates decisions made before commencement that relied on the recorded dates.
- Requires the Official Receiver to accept or refuse a statement of affairs within 14 days.
- Ensures the automatic discharge date is consistent with the dates recorded in the National Personal Insolvency Index.
- Provides that the Commonwealth may pay compensation if the amendments result in an acquisition of property on unjust terms.
- Excludes criminal proceedings from the validation of past actions.
Bankrupt persons, trustees of their estates, and other entities relying on dates in the National Personal Insolvency Index.
Sources
em
billhome
frl act