Time limits most commonly missed in relation to bankruptcy.
What's on this page?
Bankruptcy limitations
| Action | Time limit | Legislation | Extension availability |
|---|---|---|---|
|
Action
Serving bankruptcy notice |
Time limit
6 months from the date of issue |
Legislation
r.4.02A(a) Bankruptcy Regulations 1996 (Cwlth) |
Extension availability
The Official Receiver may allow any further period – r.4.02A(b) Bankruptcy Regulations 1996 (Cwlth) |
|
Action
Serving creditor’s petition |
Time limit
12 months from the date petition presented to court |
Legislation
s.52(4) Bankruptcy Act 1966 (Cwlth) |
Extension availability
The court can extend time for up to 12 months if it considers that it is just and equitable to do so (only if such extension is granted before the original 12 month period expires) – r.52(5) Bankruptcy Act 1966 (Cwlth) |
