Commentary on Sections Structure of Chapters Overview Section 681: Transfers of assets etc. treated as payments
2599.This section is concerned with the appropriation of assets by personal representatives to themselves, any other transfer of assets and the set off or release of a debt. The section is based on section 701 of ICTA.
2600.Subsections (1) and (2) provide that the relevant events are treated as payments when they occur.
2601.Subsections (3) and (4) provide that where the relevant events have not happened by the end of the administration period, amounts equal to the value of the assets or debt are treated as payable.