BANKRUPTCY ACT 1966

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (BANKRUPTCY)  

Note: See section 4A .

PART 3 - GENERAL RULES RELATING TO ESTATE ADMINISTRATIONS  

Division 90 - Review of the administration of a regulated debtor ' s estate  

Subdivision A - Introduction  

SECTION 90-1   SIMPLIFIED OUTLINE OF THIS DIVISION  


Review by the Court

The Court may inquire into the administration of a regulated debtor ' s estate either on its own initiative or on the application of the Inspector-General or a person with a financial interest in the administration of the regulated debtor ' s estate.

The Court has wide powers to make orders, including orders replacing the trustee or dealing with losses resulting from a breach of duty by the trustee.

Review by the Inspector-General

The Inspector-General may review a decision of the trustee of a regulated debtor ' s estate to withdraw funds from the estate for payment for the trustee ' s remuneration.

The Insolvency Practice Rules may set the powers and duties of the Inspector-General in conducting such a review and may deal with issues relating to the review process.

Removal of trustee by creditors

The creditors of a regulated debtor ' s estate may remove the trustee of the estate and appoint another. However, the trustee may apply to the Court to be reappointed.




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