BANKRUPTCY ACT 1966

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (BANKRUPTCY)  

Note: See section 4A .

PART 1 - INTRODUCTION  

Division 5 - Definitions  

Subdivision B - The Dictionary  

SECTION 5-5   5-5   THE DICTIONARY  
In this Schedule:

adequate and appropriate fidelity insurance
has a meaning affected by subsection 25-1(2) .

adequate and appropriate professional indemnity insurance
has a meaning affected by subsection 25-1(2) .

administration account
: see section 65-5 .

annual administration return
means the return required to be lodged under subsection 70-5(2) .

annual trustee return
means the return required to be lodged under subsection 30-1(1) .

committee of inspection
for a regulated debtor ' s estate means a committee appointed under sections 80-10 to 80-25 in relation to the administration of the estate.

creditor
, when used in relation to a regulated debtor ' s estate, means a creditor of the estate.

current conditions
: see section 5-10 .

end of an administration
of a regulated debtor ' s estate means:


(a) in the case of a bankruptcy - the day on which the bankrupt is discharged or the bankruptcy is annulled, whichever happens first; and


(b) in the case of an administration under Part X - the day 3 years after the day on which a personal insolvency agreement made by the debtor for the administration of the debtor ' s estate took effect; and


(c) in the case of an administration under Part XI - the day 3 years after the day on which the administration is taken to have commenced under section 247A .

financial interest
: a person has a financial interest in the administration of a regulated debtor ' s estate in the circumstances set out in section 5-30 .

GST
has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 .

Insolvency Practice Rules
means the rules made by the Minister under section 105-1 .

Insolvency Practice Schedule (Corporations)
means Schedule 2 to the Corporations Act 2001 , and includes rules made under section 105-1 of that Schedule.

March quarter
means the period of 3 months beginning on 1 January.

maximum default amount
for a trustee of a regulated debtor ' s estate: see section 60-15 .

notified estate charge
: see subsection 20-75(7) .

prescribed
means prescribed by the Insolvency Practice Rules.

registered trustee
means an individual who is registered as a trustee under Part 2 of this Schedule.

Register of Trustees
means the register established and maintained by the Inspector-General under section 15-1 .

regulated debtor
: see section 5-15 .

regulated debtor ' s estate
: see section 5-16 .

remuneration determination
, for a trustee of a regulated debtor ' s estate, means a determination made:


(a) under section 60-10 or 60-11 in relation to the trustee; and


(b) in accordance with section 60-12 .

this Schedule
includes the Insolvency Practice Rules.

trustee of a regulated debtor ' s estate
: see section 5-20 and 5-25 .




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