456. Acceptance of income payments agreements.

456.     Acceptance of income payments agreements.

On receipt by the official receiver or trustee of the authenticated income payments agreement1, the official receiver or trustee must authenticate and date it at which time it will come into force and a copy must be delivered to the bankrupt2.

Where the agreement provides for payments by a third person to the official receiver or trustee who is not the official receiver3, a notice of the agreement must be delivered by the official receiver or trustee to that person4. The notice must:

  1.  

    (1)     identify the bankrupt;

  2.  

    (2)     state that an income