Commonwealth Consolidated Regulations

[Index] [Table] [Search] [Search this Regulation] [Notes] [Noteup] [Download] [Help]

BANKRUPTCY REGULATIONS 1996

- made under the Bankruptcy Act 1966

TABLE OF PROVISIONS

   PART 1--PRELIMINARY

   1.01.   Name of Regulations  
   1.03.   Interpretation  
   1.04.   Application of Criminal Code  

   PART 2--ADMINISTRATION

   2.01.   Section 20J of the Act--prescribed rate of interest on moneys in Common Fund  

   PART 3--COURTS

   3.01.   Paragraph 29(5)(b) of the Act--prescribed countries  

   PART 4--PROCEEDINGS IN CONNEXION WITH BANKRUPTCY

           Division 1--Bankruptcy notices

   4.01.   Application for bankruptcy notice  
   4.02.   Form of bankruptcy notices  
   4.02A.  Service of bankruptcy notices  
   4.03.   Inspection of bankruptcy notices  
   4.04.   Judgment or order in foreign currency  

           Division 2--Petitions

   4.05.   Copy of petition, etc to be given to Official Receiver  
   4.06.   Control of debtor's property before sequestration  
   4.07.   Expenses of trustee before sequestration  
   4.08.   Application for damages where petition dismissed  
   4.09.   Subsection 50(5) of the Act--prescribed modifications of applied provisions  
   4.10.   Acceptance of debtor's declaration  
   4.11.   Prescribed information to be supplied by Official Receiver to debtor  
   4.12.   Debtor's petition--filing of trustee's consent  
   4.13.   Notice to partners of referral to Court of petition by other partners against the partnership  

           Division 3--Miscellaneous

   4.14.   Notification by trustee to creditors  
   4.15.   Exercise of proxy by trustee's representative at meeting  
   4.16.   Lodgment of proxies by fax--section 64M of the Act  
   4.17.   Inspection and copying of composition or scheme of arrangement  
   4.18.   Proposal and report for a composition or arrangement  
   4.19.   Meetings of creditors--modification of Division 5 of Part IV of the Act  

   PART 5--CONTROL OVER PERSON AND PROPERTY OF DEBTORS AND BANKRUPTS

   5.01.   Where debtor or bankrupt is arrested  
   5.02.   Fee for making request for consent to leave Australia  

   PART 6--ADMINISTRATION OF PROPERTY

           Division 1--Order of payment of debts

   6.01.   Priority payments under section 109 of the Act--prescribed matters  
   6.02.   Maximum amount payable to employee  

           Division 2--Property available for payment of debts

   6.03.   Household property  
   6.03A.  Personal property  
   6.03B.  Property divisible among creditors--prescribed amounts  

           Division 2A--Rural support schemes

   6.04A.  Prescribed rural support schemes (Act s 116)  
   6.04B.  Prescribed rural support schemes (Act s 116)  

           Division 4--Undervalued transactions

   6.09.   Transfers exempt from being void against trustee  

           Division 5--Realisation of property

   6.10.   Disclaimer of onerous property  

           Division 6--Definition of income (Act s 139L)

   6.11.   Interpretation  
   6.12.   Fringe benefits: modification of the FBTA Act  
   6.12A.  Restart scheme payments  
   6.12B.  Superannuation contributions  
   6.12C.  Family assistance and social security payments  
   6.12D.  Primary Industry rural support scheme  

           Division 7--Contributions by bankrupt

   6.13.   Interpretation  
   6.14.   Contributions by bankrupt--modes of payment  
   6.15.   Contributions where bankrupt dies  
   6.15A.  Contribution assessment--income of dependant  
   6.17.   Certificate of outstanding contribution  
   6.18.   Discharged bankrupt to give information if contribution unpaid  

           Division 8--Notice under section 139ZL of the Act

   6.19.   Notice under section 139ZL of the Act not to refer to protected money  
   6.20.   Notice under section 139ZL of the Act (notice of ceasing or commencing employment)  

           Division 9--Distribution of property

   6.21.   Minimum amount of dividend  
   6.22.   Manner of declaring final dividend  

   PART 7--DISCHARGE AND ANNULMENT

   7.01.   Trustee to inform the Official Receiver of return of bankrupt to Australia  
   7.01A.  Grounds of objection--failure to provide complete and accurate information  
   7.02.   Trustee to inform the Official Receiver of cancellation of objection  

   PART 8--TRUSTEES

           Division 1--Application for registration, or extension of registration, as a trustee

   8.01.   Documents to accompany application for registration  
   8.02.   Qualifications, experience, knowledge and abilities of applicants  
   8.03.   Subsection 155C (2) of the Act--prescribed particulars of applicant for registration as a trustee  
   8.04.   Extension of registration--proof of insurance  

           Division 1A--Change in trustee's particulars

   8.04A.  Trustee to notify change in particulars  

           Division 2--Registration of trustees

              Subdivision 1--Preliminary

   8.05.   Definitions  

              Subdivision 2--Constitution and procedure of committees generally

   8.05A.  Chairperson of a committee  
   8.05B.  Trustee chosen by the Insolvency Practitioners Association of Australia  
   8.05C.  Resignation of chairperson  
   8.05D.  Resignation of members  
   8.05E.  Disclosure of interests  
   8.05F.  Removal of members from a committee  
   8.05G.  Convening of a replacement committee  
   8.05H.  General procedures of a committee  
   8.05I.  Procedure at committee meetings  
   8.05J.  Resolutions without meeting  

              Subdivision 3--Inquiries and interviews

   8.05K.  Inquiries by the committee  
   8.05L.  Notice of interview  
   8.05M.  Applicant interviews  
   8.05N.  Report of committee decision  

              Subdivision 4--Other matters

   8.05O.  Confidentiality  
   8.05P.  Evidence of proceedings at committee meetings  

           Division 3--Consent to act, and appointment, as trustee of estate

   8.06.   Consent to act as trustee--subsection 156A(1) of the Act  
   8.06A.  Certificate of appointment under subsection 156A(3) of the Act  

           Division 4--Trustee's remuneration

              Subdivision 1--Prescribed rates--subsections 162

   8.07.   Prescribed rate--subsection 162(2) of the Act  
   8.08.   Prescribed rate--subsection 162(3) of the Act  

              Subdivision 2--Trustee's remuneration decided by Inspector-General

   8.09.   Circumstances in which trustee may apply to Inspector-General to decide remuneration  
   8.10.   Application to Inspector-General to decide remuneration  
   8.11.   Matters to which Inspector-General must have regard  

              Subdivision 3--Remuneration of trustees--notices

   8.12.   Notices  
   8.12A.  Initial remuneration notice  
   8.12B.  Remuneration approval notice  
   8.12C.  Remuneration claim notice  

              Subdivision 4--Review of remuneration

   8.12D.  Review of remuneration  
   8.12E.  Application for review--remuneration  
   8.12F.  Application threshold  
   8.12G.  Notification of decision  

              Subdivision 5--Review of bill of costs

   8.12H.  Review of bill of costs  
   8.12I.  Application for review--third party bill of costs  

              Subdivision 6--Review by Inspector-General

   8.12J.  Review by Inspector-General  
   8.12K.  How review to be conducted  
   8.12L.  Powers of Inspector-General  
   8.12M.  Non-compliance with directions  
   8.12N.  Decision of Inspector-General  
   8.12O.  Repayments of excess  

           Division 5--Registered trustee ceasing to be trustee of an estate

   8.13.   Notice of removal of trustee of estate  
   8.14.   Notice of finalisation of administration; entry on the Index  

           Division 6--Variation and termination of registration

              Subdivision 1--Preliminary

   8.15.   Definitions  
   8.16.   Documents to accompany application for change or removal of conditions  

              Subdivision 2--Constitution and procedure of committees generally

   8.17.   Chairperson of a committee  
   8.18.   Trustee chosen by the Insolvency Practitioners Association of Australia  
   8.19.   Resignation of chairperson  
   8.20.   Resignation of members  
   8.21.   Disclosure of interests  
   8.22.   Removal of members from a committee  
   8.23.   Convening of a replacement committee  
   8.24.   General procedures of a committee  
   8.25.   Procedure at committee meetings  
   8.26.   Resolutions without meeting  

              Subdivision 3--Inquiries and interviews

   8.27.   Inquiries by the committee  
   8.28.   Notice of interview (Act s 155E(6))  
   8.29.   Change of conditions on practising as a registered trustee--interview  
   8.30.   Involuntary termination of registration--interview  
   8.31.   Report of committee decision  

              Subdivision 4--Other committee-related matters

   8.32.   Confidentiality  
   8.33.   Evidence of proceedings at committee meetings  
   8.34.   Time for deciding matters (Act s 155I(1))  

              Subdivision 4A--Standards for trustees

   8.34A.  Performance standards for trustees (including controlling trustees)  

              Subdivision 5--Controlling trustees other than Official Trustee or registered trustees

   8.35.   Eligibility of controlling trustees, other than Official Trustee or registered trustees  
   8.36.   Review by Tribunal of determination under subregulation 8.35(2)  
   8.37.   Official Trustee to perform duties  

   PART 9--DEBT AGREEMENTS

   9.01.   Prescribed information to be supplied to the debtor  
   9.02.   Qualifications of applicants  

   PART 10--PERSONAL INSOLVENCY AGREEMENTS

   10.01.  Modifications of Part X of the Act--joint debtors  
   10.02.  Information to be given to debtor (Act ss 188(2AA) and (2AB))  
   10.03.  Documents under section 188 of Act  
   10.04.  Documents for meeting called under an authority under section 188 of the Act  
   10.05.  Modifications of Division 5 of Part IV of the Act--meetings called under authorities under section 188 of the Act  
   10.06.  Controlling trustee to give Official Receiver copy of special resolution and certain particulars for the Index  
   10.07.  Modifications of Part VIII of the Act--controlling trustees and trustees of personal insolvency agreements  
   10.08.  Modifications of Division 1 of Part V of the Act--debtors whose property is subject to control under Division 2 of Part X of the Act  
   10.09.  Meeting if trustee does not execute personal insolvency agreement  
   10.10.  Notification of personal insolvency agreement  
   10.11.  Sequestration order, or order terminating or setting aside a personal insolvency agreement--notice to Official Receiver (Act s 221, s 222 and s 222C)  
   10.12.  Termination of personal insolvency agreement by trustee (Act s 222A)  
   10.13.  Modifications of Parts V and VI of the Act--personal insolvency agreements  
   10.14.  Certificate relating to realisation of divisible property and non-availability of dividend  

   PART 11--ADMINISTRATION OF ESTATES OF DECEASED PERSONS IN BANKRUPTCY

   11.01.  Statement of affairs and of administration of estate  
   11.01A. Copy of petition etc to be given to Official Receiver  
   11.01B. Proof of statement of affairs  
   11.02.  Modifications of the Act--administration of estates of deceased persons  

   PART 12--UNCLAIMED DIVIDENDS OR MONEYS

   12.01.  Statement where moneys are paid to the Commonwealth  

   PART 13--NATIONAL PERSONAL INSOLVENCY INDEX

           Division 1--Preliminary

   13.01.  Interpretation  
   13.02.  Establishment and maintenance of the National Personal Insolvency Index  

           Division 2--Information to be entered on the Index

   13.03.  What information is to be entered on the Index?  
   13.04.  Application for certain information not to be on the Index  
   13.05.  Application to the AAT  

           Division 2A--Removal of information from the Index

   13.05A. Removal of information relating to debt agreement from the Index  
   13.05B. Removal of information relating to debt agreement proposal from the Index  

           Division 3--Miscellaneous

   13.06.  Inspection of the Index  
   13.07.  Extract, etc of the Index to be admissible in evidence  
   13.08.  Immunity from defamation  
   13.09.  Access to the Index  
   13.10.  Information extracted from the Index to be evidence  

   PART 14--OFFENCES UNDER THE ACT

           Division 1--Offences

   14.01.  Apprehension under a warrant--notification to Registrar in certain cases  
   14.02.  Registrar to act on notification; direction to person executing warrant  

           Division 2--Infringement notices

   14.03.  Purpose and effect of Division  
   14.04.  Definitions  
   14.05.  When infringement notices can be issued  
   14.06.  Contents of infringement notice  
   14.07.  Method of serving infringement notices  
   14.08.  Time for payment of infringement penalty  
   14.09.  Extension of time to pay infringement penalty  
   14.10.  Withdrawal of infringement notice  
   14.11.  Notice of withdrawal of infringement notices  
   14.12.  Refund of infringement penalty  
   14.13.  Effect of payment of infringement penalty  
   14.14.  Payment of infringement penalty--cheques  
   14.15.  Evidentiary certificates  

   PART 15A--PROVISIONS RELATING TO THE BANKRUPTCY CHARGES ACTS

   15A.01. Interpretation  
   15A.02. Mode of payment  
   15A.03. Overpayments to be refunded or offset  
   15A.04. Information to accompany payment of interest charge  
   15A.05. Information to accompany payment of realisations charge  
   15A.07. Lodgment of request for remission  

   PART 16--MISCELLANEOUS

           Division 1--Provisions concerning documents (including inventories)

   16.01.  Service of documents  
   16.02.  Documents for the Inspector-General, the Official Receiver or the Official Trustee  
   16.03.  Inventory by trustee taking possession of, or attaching, property  
   16.03A. Document filed by Inspector-General or Official Receiver--fee not payable  

           Division 2--Matters relevant to fees

   16.06.  Payment of fees  
   16.07.  Official Trustee's entitlement to interim remuneration  
   16.08.  Reimbursement of Official Trustee for expenses  
   16.09.  Fees--notes and transcript of evidence  
   16.11.  Waiver or remission of fees by Inspector-General  
   16.12.  Review by AAT of decision of Inspector-General  

           Division 3--Transitional

   16.13.  Application of Same-Sex Relationships (Equal Treatment in Commonwealth Laws--General Law Reform) Act 2008  
   16.14.  Transitional provisions relating to the Bankruptcy Amendment (National Personal Insolvency Index) Regulation 2015  
           SCHEDULE 1 Forms
           SCHEDULE 2 Modifications under section 76A of the Act--meetings of creditors under Division 6 of Part IV of the Act
           SCHEDULE 3 Paragraph 109(1)(a) of the Act--order of payment of first priority debts
           SCHEDULE 4 Modifications of the Fringe Benefits Tax Assessment Act 1986
           SCHEDULE 4A Performance standards for trustees (including controlling trustees)
           SCHEDULE 6 Modifications in relation to Part X of the Act
           SCHEDULE 7 Modifications under Part XI of the Act--administration of estates of deceased persons
           SCHEDULE 8 Information on the National Personal Insolvency Index


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback