Glossary

List of glossary items

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  • An integrated view of the data produced and consumed across an entire organisation.

  • Explains the nature and intricacies of the environment in which AFSA operates. This can include demographic, geographic or temporal factors that affect AFSA and its work, and the regulatory or competitive environment that AFSA operates in.

  • A person's estate is comprised of his or her property. When a person becomes bankrupt, ownership of most property and the rights attached to this property transfers to the trustee, and the trustee deals with this property (the trustee administers the estate) for the benefit of creditors.

  • In relation to a person means the person's dealings, transactions, property and affairs and the financial affairs of an associated entity of the person in so far as they are or appear to be relevant to the person or to any of his or her conduct, dealings, transactions, property and affairs.

  • Assets/property that cannot be sold in bankruptcy by the trustee. These are identified in s116 of the Bankruptcy Act 1966.

  • When a debt is released after bankruptcy, debt agreement or personal insolvency agreement. This means the person is no longer liable to pay the debt.

  • A judgment that finally determines the issues between the parties in a proceeding. A bankruptcy notice must be founded on a 'final judgment or order'.

  • A person who gives confidential and independent assistance to people with financial problems. Financial counselling services are usually provided by community or welfare organisations and are often provided free of charge.

  • Financial Property is one of the four collateral class categories. It includes personal property such as currency, document of title, shares and cheques.

  • The information entered by a secured party when making changes to an existing registration on the Personal Property Securities Register (PPSR).

  • The information entered by a secured party when making a registration on the Personal Property Securities Register (PPSR).

  • Property that the court determines was obtained with the proceeds of criminal activity and that has its ownership transferred to the Commonwealth under proceeds of crime legislation.

  • A court order under proceeds of crime legislation transferring property to the Commonwealth.

  • Defined by the Commonwealth Fraud Control Better Practice Guidance as 'dishonestly obtaining a benefit, or causing a loss, by deception or other means'.

  • An Act to give members of the public rights of access to official documents of the Australian Government and of its agencies.

  • An automatic deduction arranged without a person's consent (generally from their income or bank account) due to non-payment of a debt. A trustee in bankruptcy can garnishee income or monies held by third parties on behalf of a bankrupt, where the bankrupt has been assessed as liable to pay income contributions to his or her bankrupt estate and has failed to make payments.

  • An observable and measurable end result that can have one or more objectives. AFSA's corporate goals are designed to achieve government objectives. The goals shape business priorities, measures and strategies which in turn inform the planning, delivery, monitoring and improvement of processes for all of AFSA's work.

  • A legally binding promise whereby one party assumes responsibility for the debt, or performance obligations, of another party should that party default in some way, for example, where an entity guarantees payment of bank borrowings by a third party.

  • AFSA’s independent Regulation and Enforcement division examines complaints made against registered trustees and registered debt agreement administrators.

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