114Payment of liabilities etc. incurred under terminated deed etc.

114  Payment of liabilities etc. incurred under terminated deed etc.  (1) Where a debtor becomes a bankrupt after a personal insolvency agreement executed by him or her, or a composition or scheme of arrangement accepted by his or her creditors, has, whether before or after the commencement of this Act, been set aside or terminated:  (a) any unpaid liabilities incurred in good faith, and any unpaid commitments entered into in good faith, under the terminated agreement, composition or scheme of arrangement by the trustee or the debtor;  (b) any expenses reasonably incurred in good faith under the terminated agreement, composition or scheme of arrangement by the trustee, being expenses for which he or she has not been reimbursed; and  (c) such proportionate part of the unpaid remuneration of the trustee as the creditors in relation to the terminated agreement, composition or scheme of arrangement determine by resolution; are debts provable in the bankruptcy. the terminated agreement, composition or scheme of arrangement means the agreement, composition or scheme of arrangement that has been set aside or terminated. Subdivision B—The effect of proceeds of crime orders and applications for proceeds of crime orders 114A  The effect of proceeds of crime orders  (1) If property of a bankrupt is covered by a restraining order, or a forfeiture order, made on or after the date of the bankruptcy, proceeds of property that is covered by the order must not be applied under Subdivision A while that property is so covered.  (2) If a pecuniary penalty order is made against a bankrupt on or after the date of the bankruptcy, proceeds of any of the property of the bankrupt must not be applied under Subdivision A while the order is in force. Note: For proceeds of crime orders made before the date of the bankruptcy, see section 58A. 114B  The effect of applications for proceeds of crime orders  (a) an application is made under a proceeds of crime law for a restraining order or a forfeiture order; and  (b) if the order were made, it would cover property of a bankrupt (whether the application is made before, on or after the date of the bankruptcy); proceeds of any of the property of the bankrupt that would be covered by the order must not be applied under Subdivision A before the application is finally determined.  (a) an application is made under a proceeds of crime law for a pecuniary penalty order; and  (b) the person against whom the order would be made is, or later becomes, a bankrupt; proceeds of any of the property of the bankrupt must not be applied under Subdivision A before the application is finally determined. 114C  Director of Public Prosecutions or Commissioner of the Australian Federal Police must notify the trustee of certain matters   If circumstances arise as a result of which:  (a) this Subdivision prevents Subdivision A from being applied to the proceeds of property of a bankrupt; or  (b) this Subdivision no longer prevents Subdivision A from being applied to the proceeds of property of a bankrupt; the Director of Public Prosecutions (or the Commissioner of the Australian Federal Police, if the Commissioner is the Commonwealth proceeds of crime authority that is the responsible authority for the order under the Proceeds of Crime Act 2002) must, as soon as practicable, give the trustee written notice of the existence of the circumstances. Division 3—Property available for payment of debts