House debates
Thursday, 24 June 2010
Bankruptcy Legislation Amendment Bill 2009
Consideration of Senate Message
Bill returned from the Senate with amendments.
Ordered that the amendments be considered immediately.
Senate’s amendments—
(1) Schedule 4, item 1, page 26 (line 6), omit “$10,000”, substitute “$5,000”.
(2) Schedule 4, item 2, page 26 (line 8), omit “$10,000”, substitute “$5,000”.
(3) Schedule 4, item 3, page 26 (line 10), omit “$10,000”, substitute “$5,000”.
(4) Schedule 4, item 5, page 27 (line 6), omit “28”, substitute “21”.
(5) Schedule 4, item 11, page 27 (lines 24 and 25), omit the item.
(6) Schedule 4, item 13, page 28 (line 2), omit “(1)”.
(7) Schedule 4, item 13, page 28 (lines 5 and 6), omit subitem (2).
1:56 pm
Richard Marles (Corio, Australian Labor Party, Parliamentary Secretary for Innovation and Industry) Share this | Link to this | Hansard source
I move:
That the amendments be agreed to.
There are seven government amendments to the Bankruptcy Legislation Amendment Bill 2009. Government amendments (1) through (3) increase the thresholds for issuing bankruptcy notices, creditors’ petitions and petitions for the administration of deceased estates in bankruptcy from $2,000 to $5,000. Government amendment (4) will increase the period of effect of a declaration of intent to file a debtor’s petition from seven days to 21 days. Government amendments (5), (6) and (7) reflect the government’s decision not to progress an amendment that would have increased the income asset and debt thresholds for entering into debt agreements to make debt agreements more widely available.
Question agreed to.