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 B - Direction to comply  

SECTION 40-5   REGISTERED TRUSTEE TO REMEDY FAILURE TO LODGE DOCUMENTS OR GIVE INFORMATION OR DOCUMENTS   Application of this section

40-5(1)  
This section applies if a registered trustee fails to comply with a requirement to lodge any document, or give any information or document, that the trustee is required under this Act to lodge with or give to the Inspector-General. Inspector-General may give direction to comply

40-5(2)  
The Inspector-General may, in writing, direct the trustee to comply with the requirement within 10 business days after the notice is given.

40-5(3)  
The Inspector-General may, on the application of a registered trustee made before the end of the period referred to in subsection (2), extend, or further extend, that period. Consequences for failing to comply

40-5(4)  
If the trustee does not comply within the period, the Inspector-General may do either or both of the following:


(a) give a direction under subsection 40-15(1) (direction not to accept further appointments);


(b) apply to the Court for an order, under section 30 (general powers of Courts in bankruptcy), section 45-1 of this Schedule or any other provision that is relevant, directing the trustee to comply with the requirement within such time as is specified in the order. Direction is not a legislative instrument

40-5(5)  
A direction under subsection (2) is not a legislative instrument. Relationship with other laws

40-5(6)  
Nothing in this section limits the operation of any other provision of this Act, or any other law, in relation to a person who fails to comply with a requirement to lodge a document with, or give information or a document to, the Inspector-General.




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