Commonwealth Numbered Regulations Commonwealth Numbered RegulationsBy His Excellency's Command
Amanda Stoker
Assistant Minister to the Attorney-General
Parliamentary Secretary to the Attorney-General
Contents
Part 1--Preliminary 1
1............ Name............................................................................................................................. 1
2............ Commencement............................................................................................................. 1
3............ Authority....................................................................................................................... 1
4............ Definitions..................................................................................................................... 1
Part 2--Administration 3
5............ Disclosure of information by Inspector-General........................................................... 3
6............ Prescribed rate of interest on money held in Common Fund......................................... 3
Part 3--Courts 4
7............ Prescribed countries...................................................................................................... 4
Part 4--Proceedings in connection with bankruptcy 5
Division 1--Bankruptcy notices 5
8............ Application for bankruptcy notice................................................................................. 5
9............ Form of bankruptcy notice............................................................................................ 5
10.......... Service of bankruptcy notice......................................................................................... 6
10A....... Prescribed statutory minimum....................................................................................... 6
11.......... Inspection of bankruptcy notice..................................................................................... 6
12.......... Judgment or order in foreign currency.......................................................................... 6
Division 2--Petitions 8
13.......... Copy of petition, and certain orders, to be given to Official Receiver............................ 8
14.......... Control of debtor's property before sequestration......................................................... 8
15.......... Preliminary remuneration and expenses of trustee......................................................... 8
16.......... Application for damages where petition dismissed........................................................ 9
17.......... Prescribed modifications of applied provisions........................................................... 10
18.......... Acceptance of debtor's declaration.............................................................................. 10
19.......... Prescribed information to be supplied by Official Receiver to debtor.......................... 10
20.......... Presentation of debtor's petition.................................................................................. 11
21.......... Debtor's petition--filing of trustee's consent.............................................................. 11
22.......... Notice to partners of referral to Court of petition by other partners against the partnership 11
Part 5--Control over person and property of debtors and bankrupts 13
23.......... Arrest of debtor or bankrupt........................................................................................ 13
Part 6--Administration of property 14
Division 1--Proof of debts 14
24.......... Proof of debt in foreign currency................................................................................ 14
Division 2--Order of payment of debts 15
25.......... Priority payments--order of payment of certain costs, charges, expenses and remuneration 15
26.......... Maximum amount payable to employee...................................................................... 16
Division 3--Property available for payment of debts 18
27.......... Household property that is not available for payment of debts.................................... 18
28.......... Personal property with sentimental value that is not available for payment of debts.... 19
29.......... Tools that are not available for payment of debts......................................................... 19
30.......... Motor vehicles that are not available for payment of debts.......................................... 20
Division 4--Undervalued transactions 22
31.......... Transfers exempt from being void against trustee....................................................... 22
Division 5--Realisation of property 23
32.......... Disclaimer of onerous property................................................................................... 23
Division 6--Definition of income 24
33.......... Fringe benefits--modification of the FBTA Act......................................................... 24
34.......... Superannuation contributions...................................................................................... 24
35.......... Family assistance and social security payments........................................................... 26
Division 7--Contributions by bankrupt 27
36.......... Contribution assessment--income of dependant......................................................... 27
37.......... Contributions by bankrupt--modes of payment.......................................................... 27
38.......... Contributions where bankrupt dies.............................................................................. 28
39.......... Discharged bankrupt to give information if contribution unpaid................................. 28
Division 8--Collection of money or property by Official Receiver from person other than the bankrupt 30
40.......... Notice under section 139ZL of the Act not to refer to protected money...................... 30
41.......... Notice under section 139ZL of the Act (notice of ceasing or commencing employment) 30
Division 9--Distribution of property 31
42.......... Minimum amount of dividend..................................................................................... 31
43.......... Manner of declaring final dividend.............................................................................. 31
Part 7--Discharge and annulment 32
44.......... Trustee to inform Official Receiver of return of bankrupt to Australia........................ 32
45.......... Grounds of objection--failure to provide complete and accurate information............. 32
46.......... Inspector-General to inform Official Receiver of AAT decision about Inspector-General's decision 32
Part 8--Trustees 34
Division 1--Consent to act, and appointment, as trustee of estate 34
47.......... Filing consent to act as trustee with the Official Receiver............................................ 34
48.......... Certificate of appointment under subsection 156A(3) of the Act................................. 34
Division 2--Controlling trustees other than Official Trustee or registered trustees 35
49.......... Ineligibility of certain persons to act as controlling trustee.......................................... 35
50.......... Review by Tribunal of determination.......................................................................... 36
51.......... Official Trustee to perform duties of controlling trustee.............................................. 36
Division 3--Registered trustee ceasing to be trustee of an estate 37
52.......... Notice of removal of trustee of estate.......................................................................... 37
53.......... Notice of finalisation of administration........................................................................ 38
Part 9--Debt agreements 39
54.......... Prescribed information to be supplied to debtor.......................................................... 39
55.......... Presentation of debt agreement proposal..................................................................... 39
56.......... Qualifications for approval of application to be registered as debt agreement administrator 39
57.......... Prescribed amount of owed notified estate charges preventing renewal of registration as debt agreement administrator.................................................................................................................................... 40
Part 10--Personal insolvency agreements 41
58.......... Modifications of Part X of the Act--joint debtors...................................................... 41
59.......... Information to be given to debtor about personal insolvency agreements.................... 41
60.......... Signing authority by another person on behalf of debtor............................................. 41
61.......... Documents under section 188 of the Act..................................................................... 42
62.......... Controlling trustee to give Official Receiver copy of special resolution and certain particulars 43
63.......... Modifications of Part VIII of the Act--controlling trustees and trustees of personal insolvency agreements 44
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......................................................................................................... 44
65.......... Notification of personal insolvency agreement............................................................ 44
66.......... Information to be given to Official Receiver in relation to certain sequestration orders 44
67.......... Information to be given to Official Receiver in relation to orders terminating or setting aside a personal insolvency agreement.................................................................................................................... 44
68.......... Termination of personal insolvency agreement by trustee........................................... 45
69.......... Modifications of Parts V and VI of the Act--personal insolvency agreements.......... 46
70.......... Certificate relating to realisation of divisible property and non-availability of dividend 46
Part 11--Administration of estates of deceased persons in bankruptcy 47
71.......... Modifications of the Act--administration of estates of deceased persons................... 47
Part 12--Unclaimed dividends or money 48
72.......... Statement where money paid to the Commonwealth................................................... 48
Part 13--National Personal Insolvency Index 49
Division 1--General 49
73.......... Establishment and maintenance of the National Personal Insolvency Index................ 49
74.......... Information in the Index.............................................................................................. 49
Division 2--Information to be entered in the Index 50
75.......... Documents that must be given to Official Receiver..................................................... 50
76.......... Documents given to Official Receiver in accordance with the Act.............................. 52
77.......... Documents given to Official Receiver in accordance with this instrument.................. 55
78.......... Information about specified events.............................................................................. 57
79.......... Information about certain debtors................................................................................ 59
Division 3--Information not to be entered in the Index and information to be removed from the Index 60
80.......... Application for information to be removed, corrected or not entered in the Index....... 60
81.......... Application to the Administrative Appeals Tribunal.................................................... 60
82.......... Removal from the Index of information relating to debt agreement............................. 60
83.......... Removal from the Index of information relating to debt agreement proposal.............. 61
Division 4--Other matters 62
84.......... Inspection of the Index................................................................................................ 62
85.......... Information extracted from the Index to be evidence................................................... 62
86.......... Immunity from defamation.......................................................................................... 62
Part 14--Offences under the Act 64
Division 1--Arrest of person failing to attend before the Court etc. 64
87.......... Apprehension under a warrant--notification to Registrar in certain cases................... 64
88.......... Registrar to act on notification--direction to person executing warrant....................... 64
Division 2--Infringement notices 65
89.......... Purpose and operation of this Division....................................................................... 65
90.......... When an infringement notice may be given................................................................. 65
91.......... Matters to be included in an infringement notice......................................................... 65
92.......... Extension of time to pay amount................................................................................. 66
93.......... Withdrawal of an infringement notice.......................................................................... 67
94.......... Effect of payment of amount....................................................................................... 67
95.......... Evidentiary certificates................................................................................................. 68
96.......... Effect of this Division................................................................................................. 68
Part 15--Provisions relating to the Bankruptcy (Estate Charges) Act 1997 69
97.......... Purpose of Part............................................................................................................ 69
98.......... Mode of payment........................................................................................................ 69
99.......... Overpayments to be refunded or offset....................................................................... 69
100........ Information to accompany payment of interest charge................................................. 69
101........ Information to accompany payment of realisations charge.......................................... 69
Part 16--Miscellaneous 70
Division 1--Matters relating to documents 70
102........ Service of documents.................................................................................................. 70
103........ Documents for Inspector-General, Official Receiver or Official Trustee..................... 70
104........ Proof of statement of affairs........................................................................................ 70
105........ Document filed by Inspector-General or Official Receiver--fee not payable.............. 71
Division 2--Matters relating to fees 72
106........ Payment of fees........................................................................................................... 72
107........ Official Trustee's entitlement to interim remuneration................................................. 72
108........ Reimbursement of Official Trustee for expenses......................................................... 72
109........ Fee for inspecting notes and transcript of evidence..................................................... 73
110........ Fee for making request for consent to leave Australia................................................. 73
111........ Waiver or remission of fees by Inspector-General...................................................... 73
112........ Review of decision of the Inspector-General............................................................... 74
Division 3--Other matters 75
113........ Inventory by trustee taking possession of, or attaching, property................................ 75
114........ Indexation.................................................................................................................... 75
Part 17--Application, saving and transitional provisions 77
115........ Things done under the Bankruptcy Regulations 1996................................................. 77
116........ Taxable value of car fringe benefits............................................................................. 77
Schedule 1--Forms 78
Schedule 2--Modifications of the FBTA Act 81
FBTA Act 81
Schedule 3--Modifications in relation to Part X of the Act 87
Part 1--Modifications of Part X of the Act--joint debtors 87
Part 2--Modifications of Part VIII of the Act--controlling trustees and trustees of personal insolvency agreements 89
Part 3--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 91
Part 4--Modification under subsection 231(1) of the Act--personal insolvency agreements 92
Part 5--Modifications under subsection 231(3) of the Act--personal insolvency agreements 93
Schedule 4--Modifications under Part XI of the Act--administration of estates of deceased persons 96