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Friday, 4 March 1927


Senator McLACHLAN (South Australia) (Honorary Minister) . - At the conference it was pointed out that the section which it is proposed to amend is defective as it contains no declaration as to the effect of the order. Section 124 appears to contain adequate provision for cases where the debts of a bankrupt are paid in full. The proposed new clause will give the necessary publicity and provide for recording in the proper offices the fact of the discharge, for which there is at present no provision in the act.

Clause agreed to.

Clause 15 agreed to.

Clause 16-

Section One hundred and eighty-four of the principal act is repealed and the following section inserted in its stead : - " (2.) Where the trustee pursuant to resolution of the creditors carries on the business of the debtor, he may retain out of the estate, in addition to any remuneration under the last preceding sub-section, such commission, not exceeding One pound per centum on the turnover or sales made in the ordinary course of carrying on the business, as the creditors fix by resolution.".







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