Commonwealth Consolidated Acts

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Court may order administrator to make good loss caused by breach of duty

             (1)  This section applies if, on application by:

                     (a)  the Inspector-General; or

                     (b)  a creditor who is or has been a party to a debt agreement;

the Court is satisfied that a person who is or has been an administrator of the debt agreement has committed a breach of duty in relation to the debt agreement.

             (2)  The Court may make any one or more of the following orders:

                     (a)  an order directing the person to make good any loss that a creditor has sustained because of the person's breach of duty;

                     (b)  if the person is a registered debt agreement administrator--an order directing the Inspector-General to cancel the person's registration as a debt agreement administrator;

                     (c)  any other order that the Court considers just and equitable in the circumstances.

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