Our regulatory framework and other guidance explains how we approach the regulation of the insolvency profession.
- Regulatory framework IGPS 1
- Regulation of bankruptcy trustees and debt agreement administrators IGPS 2
We also provide guidance on general and more specific duties of trustees, see more details under each topic.
We monitor the activities of practitioners to ensure compliance with the Act. We also receive and investigate complaints received from debtors, bankrupts and creditors to identify any instances of non compliance.
- Monitoring and inspection of bankruptcy trustees & debt agreement administrators IGPS 11
- Issuing of infringement notices IGPS 18
- Complaint handling process for complaints against bankruptcy trustees and debt agreement administrators – IGPS 10
AFSA has a statutory role in undertaking reviews of trustee decisions, including remuneration, objections to discharge, and income contributions to name a few.
- Statutory reviews of trustees' decisions IGPS 12
- Reviewing remuneration of trustees and costs of third party service providers IGPS 16
- Trustees' guidelines for issuing objections to discharge when statements of affairs not yet filed IGPD 11
AFSA can also approve the remuneration of a trustee in certain circumstances.