PIR Newsletter - December 2021

AFSA’s Personal Insolvency Compliance Report 2020–2021

AFSA has published the Personal Insolvency Compliance Report (PICR) for 2020–2021, showcasing the outcomes from the Personal Insolvency Compliance Program.

AFSA website experience survey

Do you regularly visit the AFSA website? If you have just 5 -10 minutes, you can help improve the AFSA website by filling out our short website experience survey.

Update to creditor meeting notices

AFSA has changed the current creditor meeting process for Registered Trustees. From December 2021, creditor meeting notices will be submitted online through AFSA’s Online Services portal.

Publishing benchmarks for the profession

We want to hear from you about case studies where practitioners and industry bodies have demonstrated best practice in culture, integrity, and moral compass.

AFSA practitioner survey findings

96 practitioners participated in the latest survey, including 87 trustees and 9 debt agreement administrators, up from 76 in the November 2020 survey.

Section 139ZQ notice evidence for a section 121 claim

The Official Receiver (OR) Notices Team has seen an increase in trustee’s using s 139ZQ notices as an effective tool in the recovery of antecedent transactions.

Have your say on draft Bill supporting regulator best practice

The Australian Government is consulting publicly on the draft Regulator Performance Omnibus Bill to ensure it is informed by business and community expectations of regulators.

Beyond Blue mental health coaching program available for small business owners

New Access for Small Business Owners (NASBO) is a six-week coaching program that offers support by trained mental health coaches who have a background in small business themselves.

Cryptocurrency and Bankruptcy Administration

This article looks at some issues trustees face when dealing with cryptocurrency and trying to fulfil their role under section 19 of the Bankruptcy Act 1966.

Section 139U – providing evidence of income

AFSA receives a considerable number of offence referrals relating to non-compliance of section 139U of the Bankruptcy Act 1966. We look at some common errors and tips for best practice.

Case notes

We’ve outlined some court decisions that have recently been handed down relevant to personal insolvency in Australia.

AFSA’s fortnightly statistics

We will release our final fortnightly statistics for 2021 on 16 December 2021 and will recommence these statistics on 28 January 2022.

AFSA’s Christmas closure

AFSA will be closed from close of business Friday 24 December 2021 and will reopen on Tuesday 4 January 2022.