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Bankruptcy (Registration and Cancellation of Registration of a Debt Agreement Administrator) Guidelines 2020
In force
Administered by
Department of the Treasury
This item is authorised by the following title:
Bankruptcy Act 1966
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F2020L01668
22 December 2020
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1. Introduction
2. Overview of certification and specific duties of administrators
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3. Registration
Who needs to become registered?
Who does not need to become registered?
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Who can apply
Individuals
Companies
Partnerships
Fit and proper assessment
Insurance – corporate and individual
Insurance – adequate and appropriate
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Assessment of ability to satisfactorily perform the duties of an administrator
(a) Duties to ensure certificate is correct and properly administer the agreement
(c) Ensure creditors and the Official Receiver are informed about default
(d) Taking fees and expenses
(e) Handling and properly accounting for money
(f) Inform the Official Receiver within 5 days from the end of the agreement
(g) Consider whether offences under the Act have occurred and refer any evidence of such offences to the Inspector-General
Conditional registration
Industry-wide conditions
Mandatory qualifications
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4. Cancellation of registration
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Involuntary cancellation of an individual’s or company’s registration
Grounds for cancellation
Voluntary cancellation of registration
Ineligibility of an unregistered administrator
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Matters considered by the Inspector-General
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Categories of breaches
Category A breaches
Category B breaches
Category C breaches
