BANKRUPTCY ACT 1966

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (BANKRUPTCY)  

Note: See section 4A .

PART 1 - INTRODUCTION  

Division 1 - Introduction  

SECTION 1-5   SIMPLIFIED OUTLINE OF THIS SCHEDULE  


Registering trustees

Under this Act, only the Official Trustee or a registered trustee can act as the trustee of a regulated debtor ' s estate.

Part 2 of this Schedule sets out the process for registering trustees, and also deals with disciplining registered trustees.

Consistently regulating the administration of regulated debtors ' estates

Part 3 of this Schedule sets out provisions to regulate the administration of regulated debtors ' estates consistently.

A regulated debtor is a bankrupt, a person whose property is subject to control under Division 2 of Part X , a debtor under a personal insolvency agreement or a deceased person whose estate is being administered under Part XI .

Other provisions

There are other matters relevant to the administration of regulated debtors ' estates in this Act.

This Schedule also gives authority for a legislative instrument, the Insolvency Practice Rules, to deal with some matters.

Many of the terms in this Schedule are defined. The Dictionary in section 5-5 contains a list of every term that is defined in this Schedule. Other terms are defined in section 5 of this Act.




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