Commonwealth legislation

Bankruptcy (Estate Charges) (Amount of Charge Payable) Determination 2007

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

1/10 complexity

This legal instrument sets the fee rate that the government charges on money recovered from bankrupt estates.

What it does:

Establishes a 3.5% charge (fee) on funds that bankruptcy trustees recover from people who have gone bankrupt
This charge is paid to the government from the bankrupt estate before money is distributed to creditors

Who it affects:

Bankruptcy trustees (the people managing bankrupt estates)
Creditors owed money by bankrupt individuals (since this charge reduces the amount available to pay debts)

Why it matters:

It determines how much of the recovered money goes to the government as an administration fee versus how much goes to pay back debts owed to creditors
This replaces the previous year's rate set in 2006

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Current sections

Direct links to the current provisions in Bankruptcy (Estate Charges) (Amount of Charge Payable) Determination 2007.

Bankruptcy (Estate Charges) (Amount of Charge Payable) Determination 2007

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Bankruptcy (Estate Charges) (Amount of Charge Payable) Determination 2007

Bankruptcy (Estate Charges) Act 1997

I, PHILIP MAXWELL RUDDOCK, Attorney‑General, make this Determination under subsection 7 (2) of the Bankruptcy (Estate Charges) Act 1997.

Dated 28 May 2007

PHILIP RUDDOCK

Attorney‑General

1 Name of Determination

This Determination is the Bankruptcy (Estate Charges) (Amount of Charge Payable) Determination 2007.

2 Commencement

This Determination commences on 1 July 2007.

3 Repeal

The Bankruptcy (Estate Charges) (Amount of Charge Payable) Determination 2006 is repealed.

4 Definition

In this Determination:

Act means the Bankruptcy (Estate Charges) Act 1997.

5 Amount of charge payable

For subsection 7 (1) of the Act, the determined percentage is 3.5%.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

meta-content-style-type: text/css meta-content-type: application/xhtml+xml; charset=utf-8 meta-generator: Aspose.Words for .NET 20.2 title: Bankruptcy (Estate Charges) (Amount of Charge Payable) Determination 2006

?xml version="1.0" encoding="utf-8" standalone="no"?>

Bankruptcy (Estate Charges) (Amount of Charge Payable) Determination 2007

Bankruptcy (Estate Charges) Act 1997

I, PHILIP MAXWELL RUDDOCK, Attorney‑General, make this Determination under subsection 7 (2) of the Bankruptcy (Estate Charges) Act 1997.

Dated 28 May 2007

PHILIP RUDDOCK

Attorney‑General

1 Name of Determination

This Determination is the Bankruptcy (Estate Charges) (Amount of Charge Payable) Determination 2007.

2 Commencement

This Determination commences on 1 July 2007.

3 Repeal

The Bankruptcy (Estate Charges) (Amount of Charge Payable) Determination 2006 is repealed.

4 Definition

In this Determination:

Act means the Bankruptcy (Estate Charges) Act 1997.

5 Amount of charge payable

For subsection 7 (1) of the Act, the determined percentage is 3.5%.