Glossary

List of glossary items

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  • An amount that a bankrupt is liable to pay if their income exceeds a certain amount. The amount that the bankrupt has to pay is calculated using a statutory formula contained in section 139S of the Bankruptcy Act 1966.

  • A person (a registered trustee, the Official Trustee in Bankruptcy or an eligible solicitor) who investigates a debtor's financial affairs and calls a meeting of the debtor's creditors under Part X of the Bankruptcy Act 1966.

  • Authorisation given by a debtor to a trustee or solicitor of his or her choice that appoints the trustee/solicitor to manage the debtor’s affairs under section 188 of the Bankruptcy Act 1966, without him or her becoming bankrupt.

  • The principal planning document of an entity that sets out the entity’s purpose, what it will do to achieve its purpose and how it will know that it has achieved its purpose. The plan should inform the reader about the significant activities the entity will undertake over the period of the plan.

  • Charging the non-government sector some or all of the costs of a specific government activity. This may include the provision of goods, services or regulation, or a combination of these.

  • A type of government cost recovery charge used when a good or service or, in certain circumstances, regulation is provided directly to a specific individual or organisation.

  • A tool for documenting cost recovery design and operation and reporting on a cost recovered activity. A CRIS must be prepared for each cost recovered activity conducted by a government entity.

    1. In the context of bankruptcy, the court usually refers to the Federal Court of Australia or the Federal Circuit Court of Australia. Both of these courts can hear matters associated with personal insolvency.
    2. In the context of Personal Property Securities, the court usually refers to the Federal Court of Australia, the Federal Circuit Court of Australia or a Supreme Court of a state or territory. Section 207 of the Personal Property Securities Act 2009 contains further details.
  • A file kept by a credit reporting agency that shows a person’s credit history. Lenders access the information in the person’s file to help them decide whether to lend money.

  • A record of a borrower's responsible repayment of debts.

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