Commonwealth Consolidated Regulations Commonwealth Consolidated RegulationsNote: A number of expressions used in this instrument are defined in section 5 of the Act and section 5 - 5 of Schedule 2 to the Act.
In this instrument:
"ACN" has the same meaning as in the Corporations Act 2001 .
"Act" means the Bankruptcy Act 1966 .
"ARITA" means the Australian Restructuring Insolvency and Turnaround Association, ACN 002 472 362.
"current" , in relation to the registration of a person as a trustee: see section 5 - 10.
"disciplinary action" , in relation to a person who is registered as a trustee, means:
(a) any action taken by the Inspector - General in relation to the person under Division 40 of the Insolvency Practice Schedule (Bankruptcy), other than:
(i) the giving of a direction under subsection 40 - 10(2) of the Schedule in relation to information that the Inspector - General reasonably suspects is incomplete or incorrect; or
(ii) the giving of a notice under section 40 - 40 of the Schedule (a show - cause notice); or
(b) the imposition of conditions on the registration of the trustee under paragraph 155I(1)(a) of the old Act; or
(c) the deregistration of the trustee under paragraph 155I(1)(b) of the old Act.
"external administration" of a company has the same meaning as in the Insolvency Practice Schedule (Corporations).
"external administrator" of a company has the same meaning as in the Insolvency Practice Schedule (Corporations).
"Insolvency Practice Schedule (Bankruptcy)" means Schedule 2 to the Act.
"Insolvency Practice Schedule (Corporations)" means Schedule 2 to the Corporations Act 2001 .
"material personal interest" has a meaning affected by section 5 - 15.
"old Act" means the Bankruptcy Act 1966 , as in force immediately before the day on which Schedule 1 to the Insolvency Law Reform Act 2016 commences.
"Part 2 committee" means a committee convened under one of the following provisions of the Insolvency Practice Schedule (Bankruptcy):
(a) subsection 20 - 10(1) (applications for registration);
(b) subsection 20 - 45(1) (applications to vary etc. conditions of registration);
(c) subsection 40 - 45(1) (disciplinary action);
(d) subsection 40 - 75(1) (applications to lift or shorten a suspension).
"receiver" has the same meaning as in the Corporations Act 2001 .
"receiver and manager" has the same meaning as in the Corporations Act 2001 .
"regulations" means the Bankruptcy Regulations 2021 .
"remuneration claim notice" : see subsections 70 - 47(4) and (5).
"resolution" : see sections 75 - 115 and 75 - 130.
"special resolution" : see sections 75 - 132 and 75 - 137.