BANKRUPTCY ACT 1966

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (BANKRUPTCY)  

Note: See section 4A .

PART 2 - REGISTERING AND DISCIPLINING PRACTITIONERS  

Division 40 - Disciplinary and other action  

Subdivision D - Inspector-General may suspend or cancel registration  

SECTION 40-30   INSPECTOR-GENERAL MAY CANCEL REGISTRATION  

40-30(1)  
The Inspector-General may cancel the registration of a person as a trustee if:


(a) the person is disqualified from managing corporations under Part 2D.6 of the Corporations Act 2001 , or under a law of an external Territory or a law of a foreign country; or


(b) the person ceases to have:


(i) adequate and appropriate professional indemnity insurance; or

(ii) adequate and appropriate fidelity insurance;

against the liabilities that the person may incur working as a registered trustee; or


(c) the person ' s registration as a liquidator under the Corporations Act 2001 has been cancelled, other than in compliance with a written request by the person to cancel the registration; or


(d) the person owes more than the prescribed amount of notified estate charges; or


(e) if the Court has made an order under section 90-15 that the person repay remuneration - the person has failed to repay the remuneration; or


(f) the person has been convicted of an offence involving fraud or dishonesty; or


(g) the person lodges a request with the Inspector-General in the approved form to have the registration cancelled.

40-30(2)  
Nothing in this section affects the operation of Part VIIC of the Crimes Act 1914 .

Note:

Part VIIC of the Crimes Act 1914 includes provisions that, in certain circumstances, relieve persons from the requirement to disclose spent convictions and require persons aware of such convictions to disregard them.




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