Glossary

List of glossary items

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  • The record of independent reviews performed by the Administrative Appeals Tribunal (AAT). The AAT provides independent review of a wide range of administrative decisions made by the Australian Government and some non-government bodies.

  • The person or group of persons who has responsibility for, and control over, the entity's operations. AFSA's accountable authority is our Chief Executive and Inspector-General in Bankruptcy.

  • Written instructions to officials that assist AAs to meet their obligations under the Public Governance, Performance and Accountability Act 2013 (PGPA Act).

  • An action, event or declaration listed in section 40 of the Bankruptcy Act 1966, which can be used by a creditor to apply to the court to make a person bankrupt.

  • Work that an organisation performs using business processes to achieve a specific result.

    1. A personal insolvency. Can be a debt agreement, personal insolvency agreement, Part IV bankruptcy or Part XI deceased estate.
    2. The effective and efficient management of a debtor's or bankrupt's financial affairs in accordance with the Bankruptcy Act 1966.
  • Sequential numbers assigned to insolvency administrations. In the format STATE SEQUENTIAL NUMBER / YEAR / CHECK DIGIT—e.g. TAS 6000/14/3.

  • A process under the Personal Property Securities Act 2009 that allows persons with an interest in collateral described in a registration to demand to have the registration removed or amended in certain circumstances.

  • Provides independent review of a wide range of administrative decisions made by the Australian Government and some non-government bodies.

  • An Act relating to the review on questions of law of certain administrative decisions.

  • The provisions contained in a range of legislation giving entitlement to seek review of a decision made by a government department or agency.

  • Publication of a notice on the AFSA website or in a newspaper via the method approved by the Inspector-General advising a meeting of creditors.

  • AFSA's online annual estate return (AER) service.

  • Property acquired by a bankrupt after the date of bankruptcy and before discharge.

  • Personal property over which the grantor has an interest at the time the registration is made on the PPS Register, and personal property acquired after the registration is made on the PPS Register.

  • All present and after-acquired property, except for an item or class of personal property stated in the registration as being exempt.

  • A person or entity who/that is alleged to have committed a criminal offence/s.

  • Used to collect information on the operation of the Bankruptcy Act 1966 from debt agreement administrators, controlling trustees and registered trustees. Paragraph 12(1)(c) of the Bankruptcy Act empowers the Inspector-General in Bankruptcy to obtain this information. See also s170 annual return.

  • A document prepared by a Commonwealth entity's accountable authority after the end of a financial year that acquits actual performance against the planned performance for that year described in the entity's corporate plan. Annual performance statements are included in an entity's annual report.

  • A transaction that has taken place prior to a personal insolvency agreement or bankruptcy that is void against the trustee. Includes a transaction where less than market value has been paid for an asset, a transfer has been made to prevent the property becoming divisible among creditors or a preferential payment has been made to a specific creditor. A trustee has the ability to recover the asset or difference in purchase price paid.

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