Glossary

List of glossary items

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  • An individual or an organisation.

  • Under proceeds of crime legislation, if certain offences have been committed, pecuniary penalty orders can be made, ordering payments to the Commonwealth of amounts based on the benefits that a person has derived from such an offence and the benefits that the person has derived from other unlawful activity.

  • Data sought and generated by AFSA to determine the efficiency and effectiveness of activities in the achievement of AFSA's purpose(s). Performance information supports stories that describe how public resources are used to deliver on AFSA's purposes.

  • Mechanisms used by AFSA to generate performance information relating to the efficiency and effectiveness of activities in pursuing AFSA's purpose(s). These measures are reported against in annual performance statements.

  • A term that covers debt agreements, personal insolvency agreements, debtors' petition bankruptcies, sequestration order bankruptcies and deceased estate administrations.

  • A formal arrangement under Part X of the Bankruptcy Act 1966 that results from creditors accepting a debtor's proposal to settle his or her debts. Unlike debt agreements, personal insolvency agreements are not subject to income, asset or debt thresholds.

  • The combination of registered trustees in private practice, AFSA's trustee function (the Official Trustee in Bankruptcy), registered and unregistered debt agreement administrators in private practice, and solicitors who act as controlling trustees in Part X.

  • An association for practitioners who are primarily involved with the personal insolvency industry, particularly Part IX debt agreements.

  • The way in which AFSA transmits reports and file downloads of information from the National Personal Insolvency Index (NPII) to credit reporting and licensing organisations.

  • This is property to which the Personal Property Securities Act 2009 (Cth) applies.

    It is property, other than land, buildings and fixtures to land including:

    • goods
    • motor vehicles
    • planes
    • boats
    • intellectual property (such as copyright, patents and designs), bank accounts and debts (sometimes known as receivables)
    • shares and other financial property
    • and private commercial licences

    It does not apply to direct water rights, nor to most government issued licences or rights.

  • The Personal Property Securities Act 2009 (Cth) is the law on security interests in personal property. It also established the PPSR. AFSA, through the Registrar of Personal Property Securities, administers the PPSA and the PPSR.

  • The PPSR is the official government register of security interests in personal property – these are debts or other obligations that are secured by personal property. It’s an online noticeboard accessible by the general public 24/7 and is not a register of title or ownership of personal property.

    The PPSR started on 30 January 2012 and replaced many state based registers, (such as REVS and other vehicle registers and the ASIC Register of Company Charges), to form one national register.

  • A security interest in personal property.

  • Refers to an area of responsibility assigned to a Minister of the Australian Government under the Administrative Arrangements Order. A portfolio may encompass more than one Department of State, for example, the Defence Portfolio consists of the Department of Defence and the Department of Veterans' Affairs.

  • Inform members of parliament and the public of the proposed allocation of resources to government outcomes. They also assist the Senate standing committees with their examination of the government's Budget.

  • A party who is responsible for administering an insolvency. Can include the Official Trustee in Bankruptcy, registered trustees, registered debt agreement administrators and controlling trustees (including solicitor controlling trustees).

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