Glossary

List of glossary items

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  • Land, including vacant land, or land together with such things that are by law considered to be part of the land, e.g. buildings, houses, fences.

  • Land and interests in land, including vacant land, or land together with such things that are by law considered to be part of the land, e.g. buildings, houses, fences.

  • An incoming receipt in a personal insolvency. This could be from the sale of an asset, the recovery of income contributions, a debtor paying instalments from income, a receipt in relation to an Official Receiver notice, the Australian Taxation Office paying a tax return to the trustee, settling litigation etc.

  • A levy on the money received by bankruptcy, composition, debt agreement, and personal insolvency agreement and deceased estate administration practitioners.

  • A referral made by a practitioner—to AFSA’s independent Enforcement and Practitioner Supervision division—when they consider there is evidence that satisfies the relevant standard of proof of an offence under the Bankruptcy Act 1966. Members of the public can also submit referrals when they have evidence of an offence under the Bankruptcy Act 1966 or a contravention of the Personal Property Securities Act 2009. The offence referral must contain all of the information and evidence about the alleged offence.

  • A person and/or company registered with AFSA on the National Personal Insolvency Index permitted to have control of the administration of debt agreements under Part IX of the Bankruptcy Act 1966.

  • A person registered with AFSA on the National Personal Insolvency Index permitted to have control of the administration of bankruptcies, personal insolvency agreements under Part X or debt agreements under Part IX of the Bankruptcy Act 1966.

  • A person appointed in accordance with the Personal Property Securities Act in order to administer the operation of the Personal Property Securities Register (PPSR) and make and delegate powers to make decisions with respect to its data and other relevant matters.

  • A creditor who has some relationship to a particular debtor/bankrupt.

    For debt agreements lodged after 27 June 2019, 'related creditor' may also refer to a creditor who has some relationship with the debt agreement administrator.

  • For insolvency purposes in relation to a person, the Bankruptcy Act 1966 defines it as:

    1. a relative of the person
    2. a body corporate of which the person, or a relative of the person, is a director
    3. a body corporate that is related to the body corporate referred to in paragraph (b)
    4. a director, or a relative of a director, of a body corporate referred to in paragraph (b) or (c)
    5. a beneficiary under a trust of which the person, or a relative of the person, is a trustee
    6. a relative of such a beneficiary
    7. a relative of the spouse, or de facto partner, of such a beneficiary
    8. a trustee of a trust under which the person, or a relative of the person, is a beneficiary.

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