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Wednesday, 23 March 1966

Mr SNEDDEN (Bruce) (AttorneyGeneral) . - I seek leave to move four amendments together. They refer to clauses 5 and 7, the relevant portions of which read -

Clause 5. (1.) In this Act, unless the contrary intention appears- " debtor's petition " means a petition presented by a debtor against himself and includes a petition presented against a partnership in pursuance of section 57 of this Act; "policy for pure endowment" means a policy under which an amount is payable at a specified date if the person to whom the policy relates survives to that date, but a lesser amount not exceeding the sum of the premiums that have been paid is payable if that person dies before that date;

Clause 7. (1.) This Act extends to debtors being married women, infants, persons who are not Australian citizens and persons who have privilege of Parliament. (2.) A sequestration order shall not be made against, or a debtor's petition presented by -

(a)   a corporation; or

(b)   a partnership, association or company registered under a law of the Commonwealth or of a State or Territory which provides for the winding-up of such a partnership, association or company. (3.) Subject to such modifications, if any. as are prescribed by the rules, the provisions of this Act apply to and in relation to limited partnerships as if they were ordinary partnerships and, upon ill the general partners of a limited partnership becoming bankrupt, the assets of the limited partnership shall vest in the trustee.

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