BANKRUPTCY ACT 1966 - SECT 186K Cancellation of an individual's registration as a debt agreement administrator
BANKRUPTCY ACT 1966 - SECT 186K
Cancellation of an individual's registration as a debt agreement administrator(1) This section applies in relation to an individual if the individual is a registered debt agreement administrator.
Individual no longer passes the basic eligibility test
(2) The Inspector - General must cancel the individual's registration as a debt agreement administrator if the Inspector - General is satisfied that the individual no longer passes the basic eligibility test.
Other grounds for cancellation of registration
(3) The Inspector - General may ask the individual to give the Inspector - General a written explanation why the individual should continue to be registered as a debt agreement administrator, if the Inspector - General has reasonable grounds to believe that:
(a) the individual no longer has the ability (including the knowledge) to satisfactorily perform the duties of an administrator in relation to a debt agreement; or
(b) the individual has failed to properly carry out the duties of an administrator in relation to a debt agreement; or
(c) the individual no longer has the qualifications or experience prescribed by regulations made for the purposes of paragraph 186C(2)(e); or
(d) the individual has contravened a condition of the individual's registration; or
(e) the individual has ceased to have:
(i) adequate and appropriate professional indemnity insurance; or
(ii) adequate and appropriate fidelity insurance;
against the liabilities that the individual may incur working as a registered debt agreement administrator; or
(f) the individual is not a fit and proper person.
(a) the Inspector - General does not receive an explanation within 28 days of requesting it; or
(b) receives an explanation, but is not satisfied with it;
the Inspector - General may cancel the individual's registration as a debt agreement administrator.
(5) If the Inspector - General cancels, under subsection (2) or (4), an individual's registration as a debt agreement administrator, the Inspector - General must give the individual written notice of the cancellation, and the reasons for it.
Removal of registration details
(6) If the Inspector - General cancels, under subsection (2) or (4), an individual's registration as a debt agreement administrator, the Inspector - General must remove the individual's registration details from the National Personal Insolvency Index.
(7) In deciding whether to cancel, under subsection (2) or (4), an individual's registration as a debt agreement administrator, the Inspector - General must have regard to any relevant guidelines in force under section 186Q.
(8) If the Inspector - General decides to cancel, under
subsection (2) or (4), an individual's registration as a debt
agreement administrator, the individual may apply to the Administrative
Appeals Tribunal for review of the decision.