Glossary

List of glossary items

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  • A security interest that arises from a transitional security agreement.

  • TIS National is an interpreting service, provided by the Department of Immigration and Citizenship, for people who do not speak English and for the English speakers who need to communicate with them.

  • An application made by a bankrupt to his or her trustee for permission to leave Australia.

  • A person or body who administers a bankruptcy or personal insolvency agreement. They can be either the Official Trustee (AFSA) or a registered trustee. See registered trustee and Official Trustee in Bankruptcy.

  • A transaction where less than market price has been paid for an asset in consideration of a transfer in ownership of the asset. A trustee has the ability to recover the asset or difference in purchase price paid if certain criteria set out in the Bankruptcy Act 1966 are satisfied.

  • A person who is bankrupt. (That is, someone who became bankrupt and whose bankruptcy has not yet ended.) Bankrupts have various obligations and various restrictions upon their conduct.

  • A creditor whose debt does not have security attached to it.

  • A loan that is not tied to any asset e.g. credit cards.

  • A proposal to vary the terms and conditions of an existing debt agreement due to a change in the debtor's circumstances. Creditors vote on the proposal to vary in the same way as they vote on the original proposal. (Section 185M of the Bankruptcy Act 1966.)

  • A document confirming the details of a registration on the Personal Property Securities Register to the secured party's address for service. It confirms the details of a registration and may need to be given by the Secured party to the Grantor.

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