Our structure
The Australian Financial Security Authority is an executive agency in the Attorney-General’s portfolio.
Our roles
We manage the application of bankruptcy and personal property securities laws through the delivery of high-quality personal insolvency and trustee, regulation and enforcement, and personal property securities services.
AFSA fulfils the following statutory roles created by the Bankruptcy Act.
- Inspector-General in Bankruptcy
AFSA’s Chief Executive is also appointed as the Inspector-General in Bankruptcy. The Inspector-General is responsible for the general administration of the Bankruptcy Act and has powers to regulate bankruptcy trustees and debt agreement administrators, review decisions of trustees and investigate allegations of offences under the Bankruptcy Act.
- Official Receiver
On behalf of the Official Receiver, AFSA operates a public bankruptcy registry service with compliance and coercive powers to assist bankruptcy trustees to discharge their responsibilities.
- Official Trustee in Bankruptcy
The Official Trustee in Bankruptcy, a body corporate created under the Bankruptcy Act, administers bankruptcies and other personal insolvency arrangements when a private trustee or other administrator is not appointed. AFSA provides personnel and resources to ensure that the Official Trustee can fulfil its responsibilities. The Official Trustee also has responsibilities under the Proceeds of Crime Act 2002 and the Customs Act 1901 to control and deal with property under court orders made under those statutes.
The Personal Property Securities Act (PPS Act) creates the role of:
- Registrar of Personal Property Securities
The Registrar maintains the PPSR in compliance with the PPS Act and associated regulations. This includes responsibility for ensuring the register is operational and accessible. The Registrar has various powers in relation to the PPSR, such as refusing access to the PPSR or suspending its operation, in certain circumstances; removing or reinstating data on the PPSR; and conducting investigations into matters to perform their functions.
We also take a role in:
- Proceeds of crime and special administrations
- Regulation and enforcement within the personal insolvency industry.
Statutory appointments made outside the Public Service Act 1999
We publish the details of AFSA’s statutory appointments as per the requirements for the Information Publication Scheme (IPS) under the Freedom of Information Act 1982.
|
Position |
Office holder |
Term |
Appointed by |
Act and section under which appointment made |
|---|---|---|---|---|
|
Acting Inspector-General |
Gavin McCosker |
From 25 September 2021 until 18 January 2022 or until a permanent Inspector-General is appointed | Assistant Minister to the Attorney-General |
Subsection 17(1) Bankruptcy Act 1966 |
|
Official Receiver |
David Bergman |
From 31 October 2014 – no fixed term |
Attorney-General |
Section 16 Bankruptcy Act 1966 |
|
Official Receiver |
Sharyn Faulkner |
From 8 November 2021 – no fixed term | Assistant Minister to the Attorney-General | Section 16 Bankruptcy Act 1966 |
|
Acting Registrar of Personal Property Securities |
Gavin McCosker | From 18 October 2021 until 18 January 2022 or until a permanent Registrar is appointed | Assistant Minister to the Attorney-General |
Section 196 Personal Property Securities Act 2009 |
|
Deputy Registrars of Personal Property Securities |
Peter Edwards |
From 31 October 2014– no fixed term |
Attorney-General |
Subsection 200(2) Personal Property Securities Act 2009 |
|
Gavin McCosker |
From 3 March 2020– no fixed term |
Attorney-General |
Subsection 200(2) Personal Property Securities Act 2009 |