Commonwealth Consolidated Acts

BANKRUPTCY ACT 1966 - SECT 43

             (1)  Subject to this Act, where:

                     (a)  a debtor has committed an act of bankruptcy; and

                     (b)  at the time when the act of bankruptcy was committed, the debtor:

                              (i)  was personally present or ordinarily resident in Australia;

                             (ii)  had a dwelling-house or place of business in Australia;

                            (iii)  was carrying on business in Australia, either personally or by means of an agent or manager; or

                            (iv)  was a member of a firm or partnership carrying on business in Australia by means of a partner or partners or of an agent or manager;

the Court may, on a petition presented by a creditor, make a sequestration order against the estate of the debtor.

             (2)  Upon the making of a sequestration order against the estate of a debtor, the debtor becomes a bankrupt, and continues to be a bankrupt until:

                     (a)  he or she is discharged by force of subsection 149(1); or

                     (b)  his or her bankruptcy is annulled by force of subsection 74(5) or 153A(1) or under section 153B.