Glossary

List of glossary items

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  • An Act that introduced a range of amendments to the Bankruptcy Act 1966.

  • A formal, final demand for payment of a debt by a creditor owed at least $5,000 on one or more final judgments or final orders. This notice is issued by the Official Receiver at the request of a creditor, who must have a judgment from a court of competent jurisdiction to evidence their claim that they are owed money. Failure to comply with a bankruptcy notice constitutes an act of bankruptcy.

  • An online service offered by AFSA that allows access to personal insolvency information via the National Personal Insolvency Index (NPII) for a fee.

  • 1. Is a measurable improvement resulting from an outcome, which contributes to one or more of AFSA's goals; and is perceived to be an advantage by one or more stakeholders.
    2. In a bankruptcy context, a bankrupt might derive a non-cash benefit that may be income for contributions purposes. The benefit could be from any of a number of sources, including loans, fringe benefits or moneys paid to third parties as a result of exertion by a bankrupt. These types of benefits are included when calculating the bankrupt's income in order to determine his or her income contribution liability.

  • Is a record, at a point in time, of evidence that has been collated by AFSA for referral to the Commonwealth Director of Public Prosecutions (CDPP), or to be served against a defendant in a prosecution, in relation to a suspected offence/s.

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