42Property available to satisfy judgment debt

42 Property available to satisfy judgment debt

S. 42(1) amended by No. 84/1997
s. 53.

(1) Despite any Act, subordinate instrument or rule of law to the contrary, any property of a judgment debtor which if the judgment debtor were a bankrupt under the Commonwealth Bankruptcy Act 1966 would not under section 116(2)(b), (c) and (ca) of that Act be property divisible amongst the creditors of the judgment debtor must not be seized or taken under any process issued for the enforcement or execution of a judgment for the recovery or payment of money.

(2) For the purposes of subsection (1)—

(a) the Commonwealth Bankruptcy Act 1966 means the Commonwealth Act known as the Bankruptcy Act 1966 as amended and in force for the time being and, if the provisions of that Act are re-enacted, means those provisions as re-enacted and as subsequently amended and in force for the time being; and

S. 42(2)(b) amended by No. 84/1997
s. 53.

(b) section 116(2)(b), (c) and (ca) of that Act or any corresponding later provision is to be construed as if it did not contain any reference to a determination by the creditors by resolution or by the Court in relation to other property of the bankrupt.

No. 6387 s. 80.

S. 43 (Heading) inserted by No. 17/2005 s. 7(1).