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House of Representatives

Insolvency Law Reform Bill 2015

Explanatory Memorandum

(Circulated by the authority of the Minister for Small Business, Assistant Treasurer, the Hon Kelly O'Dwyer MP and the Attorney-General, the Hon Senator George Brandis)

Glossary

The following abbreviations and acronyms are used throughout this explanatory memorandum.

Abbreviation Definition
AAT Administrative Appeals Tribunal
Acts Corporations Act and the Bankruptcy Act
AFSA Australian Financial Security Authority
ARITA Australian Restructuring Insolvency and Turnaround Association
ASIC The Australian Securities and Investments Commission
ASIC Act Australian Securities and Investments Commission Act 2001
Bankruptcy Act Bankruptcy Act 1966
Bankruptcy Regulations Bankruptcy Regulations 1996
Bill Insolvency Law Reform Bill 2015
CALDB The Companies Auditors and Liquidators Disciplinary Board
COI Committee of inspection
Corporations Act Corporations Act 2001
Insolvency practitioner Collective term for both registered liquidators and registered trustees
options paper Options Paper: A modernization and harmonization of the regulatory framework applying to insolvency practitioners in Australia, Australian Government, June 2011
proposals paper Proposals Paper: A modernization and harmonization of the regulatory framework applying to insolvency practitioners in Australia, Australian Government, December 2011
Senate Inquiry Report The regulation, registration and remuneration of insolvency practitioners in Australia: the case for a new framework, Senate Economics References Committee, September 2010


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