CTHIn ForceAct
Bankruptcy Act 1966
185HMaking a debt agreement
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185H Making a debt agreement
(1) This section sets out the 2 situations in which a debt agreement is made.
Unconditional debt agreement proposals
(a) a debt agreement proposal is accepted; and
(b) the proposal is not expressed to be subject to the occurrence of a specified event within a specified period after the proposal is accepted;
(c) the Official Receiver must enter details of the debt agreement concerned on the National Personal Insolvency Index; and
(d) the debt agreement is made in the terms of the proposal when those details are so entered.
Note: Section 185EC explains how a proposal is accepted.
Conditional debt agreement proposals
(a) a debt agreement proposal is accepted; and
(b) the proposal is expressed to be subject to the occurrence of a specified event within a specified period after the proposal is accepted; and
(c) the event occurs within that period;
(d) the Official Receiver must enter details of the debt agreement concerned on the National Personal Insolvency Index; and
(e) the debt agreement is made in the terms of the proposal when those details are so entered.
Note: Section 185EC explains how a proposal is accepted.