Glossary

List of glossary items

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  • One of the three methods used to conduct a procurement—open tender, prequalified tender or limited tender.

  • Government actions taken to deliver an agency's stated outcomes.

  • A form on which a creditor can outline its claim in an administration. A dividend will only be paid to those creditors whose proof of debt has been admitted by the trustee.

  • Efficient, effective, economical and ethical when used in relation to the use or management of public resources under the Public Governance, Performance and Accountability Act 2013 (PGPA Act).

  • Money that can’t be claimed by a trustee in bankruptcy e.g. some superannuation funds, insurance policies and compensation payments for personal injury.

  • A debt that entitles the creditor to lodge a claim and participate in a dividend in a debt agreement, personal insolvency agreement, bankruptcy or deceased estate administration.

  • A written appointment given by one person to another person to act for him or her. In a personal insolvency context, a proxy is usually the granting by a creditor of the right to vote in its place at a meeting of creditors convened by a trustee.

  • An Act to provide for the establishment and management of the Australian Public Service, and for other purposes.

  • Purpose includes 'the objectives, functions or role' of an entity. The aim of the purpose statement is to give context to the significant activities that AFSA will pursue.

    1. The number of members of a group or organisation required to be present to transact business legally, usually a majority.
    2. At a meeting of creditors a quorum is determined by the trustee and requires a minimum of one creditor who is entitled to vote (either in person or by proxy) and the trustee (or its representative) present. A note to section 64N of the Bankruptcy Act 1966 states that at least two persons must be physically present, that is the trustee (or its representative) cannot also be the proxy or attorney of the creditor who is entitled to vote.
  • 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 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.

  • The Registrar administers the Personal Property Securities Register in compliance with the Personal Property Securities Act 2009 and Regulations. The Registrar is appointed by the Attorney-General under the Personal Property Securities Act.

  • The Regulation function operates independently from AFSA's other functional roles, discharging the regulatory and review responsibilities of the Inspector-General in Bankruptcy under the Bankruptcy Act 1966.

  • The Regulation function operates independently from AFSA's other functional roles, discharging the regulatory and review responsibilities of the Inspector-General in Bankruptcy under the Bankruptcy Act. The enforcement function is responsible for investigating all alleged offences under the Bankruptcy Act and preparing briefs for prosecution.

  • 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.

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