BANKRUPTCY ACT 1966

PART IX - DEBT AGREEMENTS  

Division 8 - Registration of debt agreement administrators etc.  

Subdivision A - Introduction  

SECTION 186A   BASIC ELIGIBILITY TEST  

186A(1)   Individuals.  

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 an insolvent under administration; 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 the Corporations Act 2001 (other than in response to a written request by the individual to have the registration cancelled); or


(e) at any time during the 10-year period ending at the test time, the individual ' s registration as a trustee was cancelled (other than in response to a written request by the individual to have the registration cancelled); 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.

186A(2)  


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

186A(3)   Companies.  

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 a Chapter 5 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.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.