Commonwealth Consolidated Acts

BANKRUPTCY ACT 1966 - SECT 186A

Individuals

             (1)  For the purposes of this Division, an individual passes the basic eligibility test at a particular time (the test time ) unless:

                     (a)  at any time during the 10‑year period ending at the test time, the individual was:

                              (i)  an insolvent under administration; or

                             (ii)  a party (as a debtor) to a debt agreement; or

                     (b)  at any time during the 10‑year period ending at the test time, the individual was convicted of an offence involving fraud or dishonesty; or

                     (c)  at the test time, the individual is disqualified from managing corporations under Part 2D.6 of the Corporations Act 2001 ; or

                     (d)  at any time during the 10‑year period ending at the test time, the individual's registration as a liquidator was cancelled under subsection 1292(2) or (3) of the Corporations Act 2001 ; or

                     (e)  at any time during the 10‑year period ending at the test time, the individual's registration as a trustee ceased under section 155I for a reason specified in paragraph 155H(1)(a), (aa), (b), (e), (f), (fa) or (g); or

                      (f)  at any time during the 10‑year period ending at the test time, the individual's registration as a debt agreement administrator was cancelled under section 186K on the ground that:

                              (i)  the individual contravened a condition that applied in relation to that registration; or

                             (ii)  the individual failed to properly carry out the duties of an administrator in relation to a debt agreement; or

                     (g)  at any time during the 10‑year period ending at the test time, the individual's registration as a debt agreement administrator was cancelled as a result of an order under section 185ZCA; or

                     (h)  at any time during the 10‑year period ending at the test time, a declaration was made under section 186M in relation to the individual; or

                      (i)  at any time during the 10‑year period ending at the test time, a determination in relation to the individual was made under subregulation 9.06(3) of the Bankruptcy Regulations 1996 as in force before the commencement of this section.

             (2)  Subparagraph (1)(a)(i) does not apply in relation to a bankruptcy that has been annulled under section 153B.

Companies

             (3)  For the purposes of this Division, a company passes the basic eligibility test at a particular time (the test time ) unless:

                     (a)  at any time during the 10‑year period ending at the test time, the company was an externally‑administered body corporate; or

                     (b)  at any time during the 10‑year period ending at the test time, the company was convicted of an offence involving fraud or dishonesty; or

                     (c)  at any time during the 10‑year period ending at the test time, the company's registration as a debt agreement administrator was cancelled under section 186L on the ground that:

                              (i)  the company contravened a condition that applied in relation to that registration; or

                             (ii)  the company failed to properly carry out the duties of an administrator in relation to a debt agreement; or

                     (d)  at any time during the 10‑year period ending at the test time, the company's registration as a debt agreement administrator was cancelled as a result of an order under section 185ZCA; or

                     (e)  at any time during the 10‑year period ending at the test time, a declaration was made under section 186M in relation to the company; or

                      (f)  at the test time, a director of the company does not pass the basic eligibility test; or

                     (g)  at any time during the 10‑year period ending at the test time, a determination in relation to the company was made under subregulation 9.06(3) of the Bankruptcy Regulations 1996 as in force before the commencement of this section.