A thing or circumstance that causes ongoing or persistent suffering or difficulty. There are specific hardship provisions in section 139T of the Bankruptcy Act 1966 that are limited to exceptional circumstances that would impose an excessive financial burden on a debtor. The list of hardship reasons is exhaustive and includes ongoing medical expenses, necessary childcare costs to enable employment and rent costs.
List of glossary itemsDisplaying 1 - 3 of 3.
Some state and territory laws provide that motor vehicles used in the commission of certain offences may be made subject to impoundment, immobilisation and forfeiture. Motor vehicles that have been the subject of such sanctions may be registered on the Personal Property Securities Register, as a hoon lien.
Items that a bankrupt is able to retain when they become a bankrupt (i.e. that are not divisible property). A list of these items can be found in Bankruptcy Regulation 6.03.