Glossary

List of glossary items

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  • Common Investment Fund

    When AFSA, acting as the Official Trustee, administers an estate, all amounts held in respect of the estate are deposited into the Common Investment Fund.

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    Official Trustee in Bankruptcy (OT)

  • Commonwealth Director of Public Prosecutions (CDPP)

    An independent prosecution service established to prosecute alleged offences against Commonwealth law and deprive offenders of the proceeds of criminal activity under the control of the Director, a statutory officer appointed by the Attorney-General.

  • Commonwealth Performance Framework

    A framework stipulating the importance of performance for Commonwealth entities as required under paragraph 5(b) of the Public Governance, Performance and Accountability Act 2013.

  • Compensation for Detriment caused by Defective Administration scheme (CDDA)

    A Government scheme whereby agencies are able to provide compensation to people who have experienced detriment as a result of an agency's defective actions or inaction.

  • Completion (of a debt agreement)

    A debt agreement is completed when the debtor has made all payments and completed all obligations under the debt agreement. (Section 185N of the Bankruptcy Act 1966).

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    Debt agreement

  • Complex offences

    Offences against the Bankruptcy Act 1966 or contraventions of the Personal Property Securities Act 2009 that do not fall within the definition of a compliance offence and cannot be resolved by a compliance letter or an infringement notice. Generally, complex offences involve fraud and/or financial loss.

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    Compliance offences

  • Compliance offences

    Administrative-type bankruptcy offences where an individual, whether bankrupt or not, has failed to comply with a legislated requirement under the Bankruptcy Act 1966, the Insolvency Practice Rules (Bankruptcy) or the Bankruptcy Regulations.

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    Complex offences

  • Composition

    1. See Section 73 proposal.
    2. A former Part X arrangement, ceasing as at 1 December 2004. (The term is still used in this context for National Personal Insolvency Index purposes.)

  • Conflict of interest

    Where a person is serving or trying to serve two or more interests that aren't compatible. For instance, if a solicitor acted for both parties in a matter.

  • Consent to act

    A form completed by a trustee (or two trustees, if they wish to act jointly and severally) confirming that he/she/they is willing and able to act as the trustee(s) of an administration. The form is filed with the Official Receiver.

    You might also be interested in:
    Form 12 Trustee Consent to Act Declaration

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