Bankruptcy Act 1966
PART IX
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DEBT AGREEMENTS
Division 8
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Registration of debt agreement administrators etc.
Subdivision C
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Surrender and cancellation of registration as a debt agreement administrator
SECTION 186K
CANCELLATION OF AN INDIVIDUAL
'
S REGISTRATION AS A DEBT AGREEMENT ADMINISTRATOR
Scope
186K(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
186K(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
186K(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:
186K(4)
If: (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;
Notice of cancellation
186K(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
186K(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.
Guidelines
186K(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 .
Review
186K(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 Review Tribunal for review of the decision.
View history note
Hide history noteScope
186K(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
186K(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
186K(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.186K(4)
If: (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.
Notice of cancellation
186K(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
186K(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.
Guidelines
186K(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 .
Review
186K(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 Review Tribunal for review of the decision.