Summary
Amends the: Bankruptcy Act 1966 and Family Law Act 1975 to clarify the interaction between family law and bankruptcy, particularly in relation to the rights of the non-bankrupt spouse and the interests of creditors; and Bankruptcy Act 1966 to: establish a supervised account regime for the collection by a bankruptcy trustee of a bankrupt’s assessed income contributions; and prevent the use of financial and maintenance agreements to defeat the claims of creditors. Also contains application provisions.