Glossary

List of glossary items

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  • A written document that outlines the trustee's decision to extend the bankruptcy and why the decision was made. It is filed with the Official Receiver and is registered on the National Personal Insolvency Index (NPII).

  • A role created under the Bankruptcy Act 1966 to carry out statutory functions under that Act, including maintaining the National Personal Insolvency Index (NPII), providing registry services in relation to personal insolvencies and assisting trustees to perform their functions though the issue of statutory notices.

  • The Official Receiver has discretion to cancel a debt agreement proposal during the voting period on the basis of non-disclosure or incorrect information on the proposal and/or explanatory statement on which the creditors are relying when making a decision on their vote, or when a withdrawal request from the debtor has been received. (Section 185ED of the Bankruptcy Act 1966).

  • The Official Receiver has discretion to withdraw a variation (section 185MD of the Bankruptcy Act 1966) or termination proposal (section 185PD of the Bankruptcy Act) during the voting period when a withdrawal request by the proposing creditor or debtor is received, or if the Official Receiver becomes aware of material reasons that could affect creditors' decisions when voting.

  • A notice issued by the Official Receiver, either on application by a trustee or at the Official Receiver's initiative, that requires a bankrupt, debtor or third party to do something specific and that imposes penalties for non-compliance.

  • A body corporate that administers bankruptcies and other personal insolvency arrangements when a private trustee or other administrator is not appointed.

  • A resolution passed by a majority in value of the creditors present personally, by telephone, by attorney or by proxy at a meeting of creditors and voting on the resolution.

  • The knowledge, experience, professional skill sets, and specialised people within AFSA that contribute to servicing clients and stakeholders and achieving AFSA's goals.

  • An organisation, such as a company, who grants a security interest in personal property.

  • Government outcomes are the intended results, impacts or consequences of actions by the government on the Australian community.