Important updates for debt agreement administrators
The Inspector-General has updated temporary guidance regarding debt agreement variations during COVID- 19. These changes are currently in affect for six months (until 30 September 2020).
For more information see Practitioners: COVID-19 and changes to debt agreements.
For further updated guidance for practitioners see Practitioners: COVID-19 and updated advice from the Inspector-General.
Registered debt agreement administrators
In this section you will find guidance and direction on meeting your ongoing general and specific obligations as a personal insolvency practitioner within our regulatory framework. This information includes links to relevant pages and more details available in the Inspector-General Practice Statements (IGPS) and Inspector-General Practice Directions (IGPD).
Alleged offences and tip-offs
We expect you to refer alleged offences under the Bankruptcy Act. For debt agreement proposals lodged after 27 June 2019, you have a duty to refer alleged offences under the Bankruptcy Act. Find out how to refer alleged offences to AFSA’s Enforcement team, or make a pre-referral enquiry.
For more details about types of offences and reporting obligations.
- Referring offences IGPS 14
- Referral of offences under section 271 (rash and hazardous gambling) IGPS 6
- Issuing of infringement notices by the Inspector-General in Bankruptcy IGPS 18
See the Guidance video: Referring alleged offences [YouTube]
Communication
Find out about the Inspector-General in Bankruptcy’s expectations on effective communication with bankrupts, creditors, debtors and other stakeholders
Remuneration, charges and payments
Find out more about a debt agreement administrator's obligations to collect realisation and interest charges on funds received into an estate:
- Collection of realisations and interest charges IGPD 2
- Guidelines for the payment of monies to the Commonwealth pursuant to Section 254 of the Bankruptcy Act 1966 IGPD 20
See the insolvency practitioner remuneration guidance video series.
Lodging your annual administration return (AAR)
- Annual administration returns IGPS 7
- Practitioner AAR online services support information and user guides
- Login to Practitioner AAR online
Specific obligations
These guidance documents will help you ensure compliance with your specific duties under the Act.
- Debt agreement administrators’ guidelines relating to advertising IGPG 1
- What constitutes an expense recoverable in a debt agreement by an administrator? IGPD 3
- Treatment of secured creditors in a Part IX debt agreement IGPD10
- Debt agreement administrators' guidelines to certification requirements IGPD13
- Debt agreement administrators' guidelines relating to keeping proper accounts IGPD 15
- Guidelines relating to administrators' duty to notify the Official Receiver of 6-month arrears default IGPD 16
- Guidelines relating to administrators' duty to notify creditors of 3-month arrears default IGPD 17
- Guidelines relating to the registration and cancellation of registration of a debt agreement administrator
See the Guidance video: AFSA Personal Insolvency Practitioner Compliance Report [You Tube]
Cancelling your registration
AFSA will take action to cancel the registration of a debt agreement administrator on a voluntary basis or on an involuntary basis if there are sufficient grounds to justify the removal of an administrator from the insolvency profession.