Glossary

List of glossary items

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  • AFSA's online annual administration return (AAR) service.

  • 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.

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

  • A collateral class registrable on the Personal Property Securities Register (PPSR).

    It includes all personal property over which the grantor has an interest both at the time a registration is made and after.

    This is sometimes abbreviated to ‘AllPAAP’.

  • A collateral class registerable on the Personal Property Securities Register (PPSR).

    It includes all present and after-acquired property, except for any personal property of the grantor stated in the registration as being exempt.

    This is sometimes abbreviated to ‘AllPAAP except’.

  • 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. Section 70-5 of Schedule 2 of the Insolvency Practice Schedule (Bankruptcy) and section 185LEA of the Bankruptcy Act empowers the Inspector-General in Bankruptcy to obtain this information.

  • 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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