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Throughout 2021, AFSA explored ways that we can make our formal insolvency guidance easier to navigate and use. This project formed part of a wider strategic goal at AFSA to drive willing compliance and engagement and is outlined in the Personal Insolvency Compliance Program 2021-22.
Having considered stakeholder feedback, the following four changes have been made to our insolvency guidance which can be found on our website.
Guidance documents renamed
The statutory prefixes in the title of the guidance documents have been removed and instead retained as an internal reference appearing underneath the title. For example, ‘IGPD1 Independence of Personal Insolvency Practitioners’ has become ‘Independence of Personal Insolvency Practitioners’ with ‘IGPD1’ appearing underneath the title as a reference.
Merger of guidance documents
The following guidance documents have been merged:
- OTPS5, IGPD11 and IGPD7 all cover objections to discharge and have been merged into IGPD7
- IGPD20 and ORPS10 about unclaimed monies have been merged into ORPS10
- IGPD9 on standards for trustees has been retired as IGPD14 on trustees’ duties addresses trustee standards at length
- IGPD10 on the treatment of secured creditors in a debt agreement and ORPS11 on debt agreements have been merged into ORPS11 which has retained its title ‘Debt Agreements. IGPD10 has been retired.
Filters have been introduced to allow filtering by user type, guidance type and subject.
An A-Z subject index of the guidance documents has been introduced with links to relevant guidance, forms and legislation.
We have also published a new guidance document on security of information for practitioners outlining the Inspector-General’s expectations about data and information management.
To view all of our insolvency guidance resources, visit our website.