Bankruptcy (Decimal Currency)

No. 128 of 1965

An Act to amend the Bankruptcy Act 1924–1960, as amended by the Judges’ Remuneration Act 1965, in relation to Decimal Currency.

[Assented to 18 December, 1965]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the Bankruptcy (Decimal Currency) Act 1965.

(2.) The Bankruptcy Act 1924–1960, as amended by the Judges’ Remuneration Act 1965, is in this Act referred to as the Principal Act.

(3.) The Second Schedule to the Judges’ Remuneration Act 1965 is amended by omitting the words and figures—

“Bankruptcy Act 1924–1960 | Bankruptcy Act 1924–1965”.

(4.) The Principal Act, as amended by this Act, may be cited as the Bankruptcy Act 1924–1965.

Commencement.

2. This Act shall come into operation on the fourteenth day of February, One thousand nine hundred and sixty-six.

Duties of trustee.

3. Section 175 of the Principal Act is amended—

(a) by omitting sub-paragraph (iii) of paragraph (c) of subsection (1.) and inserting in its stead the following sub-paragraph:—

“(iii) of the dividend, if any, proposed to be paid to the creditors, and the amount to be retained for further contingencies,”;

(b) by omitting from paragraph (c) of that sub-section the words “amount in the pound” (last occurring) and inserting in their stead the word “dividend”; and

(c) by omitting from paragraph (h) of that sub-section the words “amount in the pound” and inserting in their stead the word “dividend”.

Contents of register.

4. Section 197 of the Principal Act is amended by omitting from paragraph (c) of sub-section (1.) the words “in the pound”.

Bankruptcy notices in decimal currency.

5.—(1.) Where a bankruptcy notice under section 53 of the Bankruptcy Act 1924–1965 is issued on or after the fourteenth day of February, One thousand nine hundred and sixty-six, in respect of a judgment or order that is expressed in the currency provided for by the Coinage Act 1909–1947, the amount of the judgment debt or sum ordered to be paid shall be expressed in the bankruptcy notice in the currency provided for by the Currency Act 1965 and, for that purpose, the amount shall, subject to the next succeeding sub-section, be ascertained by reference to the equivalents specified in sub-section (4.) of section 8 of that Act.

(2.) For the purposes of the last preceding sub-section, where the amount referred to in the last preceding sub-section in the currency provided for by the Coinage Act 1909–1947 is an amount of pounds, shillings and pence, pounds and pence, shillings and pence or pence, the corresponding amount in the currency provided for by the Currency Act 1965 shall be calculated on the basis that an amount of pence specified in the first column in the table set out in sub-section (3.) of section 11 of the Currency Act 1965 corresponds to the amount of cents specified in the second column of that table opposite to that amount of pence.