Commonwealth Consolidated Regulations

BANKRUPTCY REGULATIONS 2021

- made under the Bankruptcy Act 1966

TABLE OF PROVISIONS

   PART 1--PRELIMINARY

   1.      Name  
   3.      Authority  
   4.      Definitions  

   PART 2--ADMINISTRATION

   5.      Disclosure of information by Inspector - General  
   6.      Prescribed rate of interest on money held in Common Fund  

   PART 3--COURTS

   7.      Prescribed countries  

   PART 4--PROCEEDINGS--IN CONNECTION WITH BANKRUPTCY

           Division 1--Bankruptcy notices

   8.      Application for bankruptcy notice  
   9.      Form of bankruptcy notice  
   10.     Service of bankruptcy notice  
   10A.    Prescribed statutory minimum  
   11.     Inspection of bankruptcy notice  
   12.     Judgment or order in foreign currency  

           Division 2--Petitions

   13.     Copy of petition, and certain orders, to be given to Official Receiver  
   14.     Control of debtor's property before sequestration  
   15.     Preliminary remuneration and expenses of trustee  
   16.     Application for damages where petition dismissed  
   17.     Prescribed modifications of applied provisions  
   18.     Acceptance of debtor's declaration  
   19.     Prescribed information to be supplied by Official Receiver to debtor  
   20.     Presentation of debtor's petition  
   21.     Debtor's petition--filing of trustee's consent  
   22.     Notice to partners of referral to Court of petition by other partners against the partnership  

   PART 5--CONTROL--OVER PERSON AND PROPERTY OF DEBTORS AND BANKRUPTS

   23.     Arrest of debtor or bankrupt  

   PART 6--ADMINISTRATION--OF PROPERTY

           Division 1--Proof of debts

   24.     Proof of debt in foreign currency  

           Division 2--Order of payment of debts

   25.     Priority payments--order of payment of certain costs, charges, expenses and remuneration  
   26.     Maximum amount payable to employee  

           Division 3--Property available for payment of debts

   27.     Household property that is not available for payment of debts  
   28.     Personal property with sentimental value that is not available for payment of debts  
   29.     Tools that are not available for payment of debts  
   30.     Motor vehicles that are not available for payment of debts  

           Division 4--Undervalued transactions

   31.     Transfers exempt from being void against trustee  

           Division 5--Realisation of property

   32.     Disclaimer of onerous property  

           Division 6--Definition of income

   33.     Fringe benefits--modification of the FBTA Act  
   34.     Superannuation contributions  
   35.     Family assistance and social security payments  

           Division 7--Contributions by bankrupt

   36.     Contribution assessment--income of dependant  
   37.     Contributions by bankrupt--modes of payment  
   38.     Contributions where bankrupt dies  
   39.     Discharged bankrupt to give information if contribution unpaid  

           Division 8--Collection of money or property by Official Receiver from person other than the bankrupt

   40.     Notice under section 139ZL of the Act not to refer to protected money  
   41.     Notice under section 139ZL of the Act (notice of ceasing or commencing employment)  

           Division 9--Distribution of property

   42.     Minimum amount of dividend  
   43.     Manner of declaring final dividend  

   PART 7--DISCHARGE--AND ANNULMENT

   44.     Trustee to inform Official Receiver of return of bankrupt to Australia  
   45.     Grounds of objection--failure to provide complete and accurate information  
   46.     Inspector - General to inform Official Receiver of ART decision about Inspector - General's decision  

   PART 8--TRUSTEES

           Division 1--Consent to act, and appointment, as trustee of estate

   47.     Filing consent to act as trustee with the Official Receiver  
   48.     Certificate of appointment under subsection 156A(3) of the Act  

           Division 2--Controlling trustees other than Official Trustee or registered trustees

   49.     Ineligibility of certain persons to act as controlling trustee  
   50.     Review by Tribunal of determination  
   51.     Official Trustee to perform duties of controlling trustee  

           Division 3--Registered trustee ceasing to be trustee of an estate

   52.     Notice of removal of trustee of estate  
   53.     Notice of finalisation of administration  

   PART 9--DEBT--AGREEMENTS

   54.     Prescribed information to be supplied to debtor  
   55.     Presentation of debt agreement proposal  
   56.     Qualifications for approval of application to be registered as debt agreement administrator  
   57.     Prescribed amount of owed notified estate charges preventing renewal of registration as debt agreement administrator  

   PART 10--PERSONAL--INSOLVENCY AGREEMENTS

   58.     Modifications of Part X of the Act--joint debtors  
   59.     Information to be given to debtor about personal insolvency agreements  
   60.     Signing authority by another person on behalf of debtor  
   61.     Documents under section 188 of the Act  
   62.     Controlling trustee to give Official Receiver copy of special resolution and certain particulars  
   63.     Modifications of Part VIII of the Act--controlling trustees and trustees of personal insolvency agreements  
   64.     Modifications of Division 1 of Part V of the Act--debtors whose property is subject to control under Division 2 of Part X of the Act  
   65.     Notification of personal insolvency agreement  
   66.     Information to be given to Official Receiver in relation to certain sequestration orders  
   67.     Information to be given to Official Receiver in relation to orders terminating or setting aside a personal insolvency agreement  
   68.     Termination of personal insolvency agreement by trustee  
   69.     Modifications of Parts V and VI of the Act--personal insolvency agreements  
   70.     Certificate relating to realisation of divisible property and non - availability of dividend  

   PART 11--ADMINISTRATION--OF ESTATES OF DECEASED PERSONS IN BANKRUPTCY

   71.     Modifications of the Act--administration of estates of deceased persons  

   PART 12--UNCLAIMED--DIVIDENDS OR MONEY

   72.     Statement where money paid to the Commonwealth  

   PART 13--NATIONAL--PERSONAL INSOLVENCY INDEX

           Division 1--General

   73.     Establishment and maintenance of the National Personal Insolvency Index  
   74.     Information in the Index  

           Division 2--Information to be entered in the Index

   75.     Documents that must be given to Official Receiver  
   76.     Documents given to Official Receiver in accordance with the Act  
   77.     Documents given to Official Receiver in accordance with this instrument  
   78.     Information about specified events  
   79.     Information about certain debtors  

           Division 3--Information not to be entered in the Index and information to be removed from the Index

   80.     Application for information to be removed, corrected or not entered in the Index  
   81.     Application to the Administrative Review Tribunal  
   82.     Removal from the Index of information relating to debt agreement  
   83.     Removal from the Index of information relating to debt agreement proposal  

           Division 4--Other matters

   84.     Inspection of the Index  
   85.     Information extracted from the Index to be evidence  
   86.     Immunity from defamation  

   PART 14--OFFENCES--UNDER THE ACT

           Division 1--Arrest of person failing to attend before the Court etc.

   87.     Apprehension under a warrant--notification to Registrar in certain cases  
   88.     Registrar to act on notification--direction to person executing warrant  

           Division 2--Infringement notices

   89.     Purpose and operation of this Division  
   90.     When an infringement notice may be given  
   91.     Matters to be included in an infringement notice  
   92.     Extension of time to pay amount  
   93.     Withdrawal of an infringement notice  
   94.     Effect of payment of amount  
   95.     Evidentiary certificates  
   96.     Effect of this Division  

   PART 15--PROVISIONS--RELATING TO THE BANKRUPTCY (ESTATE CHARGES) ACT 1997

   97.     Purpose of Part  
   98.     Mode of payment  
   99.     Overpayments to be refunded or offset  
   100.    Information to accompany payment of interest charge  
   101.    Information to accompany payment of realisations charge  

   PART 16--MISCELLANEOUS

           Division 1--Matters relating to documents

   102.    Service of documents  
   103.    Documents for Inspector - General, Official Receiver or Official Trustee  
   104.    Proof of statement of affairs  
   105.    Document filed by Inspector - General or Official Receiver--fee not payable  

           Division 2--Matters relating to fees

   106.    Payment of fees  
   107.    Official Trustee's entitlement to interim remuneration  
   108.    Reimbursement of Official Trustee for expenses  
   109.    Fee for inspecting notes and transcript of evidence  
   110.    Fee for making request for consent to leave Australia  
   111.    Waiver or remission of fees by Inspector - General  
   112.    Review of decision of the Inspector - General  

           Division 3--Other matters

   113.    Inventory by trustee taking possession of, or attaching, property  
   114.    Indexation  

   PART 17--APPLICATION--, SAVING AND TRANSITIONAL PROVISIONS

   115.    Things done under the Bankruptcy Regulations 1996  
   116.    Taxable value of car fringe benefits  
           SCHEDULE 1 Forms
           SCHEDULE 2 Modifications of the FBTA Act
           SCHEDULE 3 Modifications in relation to Part X of the Act
           SCHEDULE 4 Modifications under Part XI of the Act--administration of estates of deceased persons